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Wednesday, February 21, 2024
Home News Noatum acquires Sesé’s Finished Vehicles Logistics

Noatum acquires Sesé’s Finished Vehicles Logistics

AD Ports Group announced that Noatum, which now leads its Logistics Cluster operations, has signed an agreement for the acquisition of the 100% equity ownership of Sesé Auto Logistics, the Finished Vehicles Logistics (FVL) business of Grupo Logístico Sesé, for a total purchase consideration (Enterprise Value) of €81 million (around US$85 million).

The transaction is expected to be completed by the first quarter of 2024, subject to regulatory approvals.

According to AD Ports Group, this transaction is expected to generate significant synergies with Noatum’s port terminals business in Spain, in order to offer an integrated logistics solution that will reinforce Noatum Automotive’s services for Original Equipment Manufacturers (OEMs) and other stakeholders.

Captain Mohamed Juma Al Shamisi, managing director and Group CEO of AD Ports Group, commented, "With the addition of Noatum to AD Ports Group, we are delivering on our wise leadership’s ambitious vision, and our strategy to expand our presence and build end-to-end supply chains across major global markets, and notably in Europe and the Mediterranean Region."

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