Noatum, which currently manages AD Ports Group's Logistics Cluster activities, has completed the sale of its 27.9% ownership in Barcelona Container Depot Service Group (BCDS) for an equity value of €11 million (around US$11.55 million) resulting in a one-off capital gain of €10 million (around US$10.5 million).
BCDS specialises in the storage, maintenance, repair, and cleaning of dry and reefer containers, as well as ISO tanks, and operates from six locations around Spain, with the majority of the activity performed in Barcelona.
The divestment is consistent with AD Ports Group's objective of proactively managing its asset portfolio and monetising non-core participations and assets with no route to majority ownership and/or operational control, according to a statement.
"The sale of Noatum's minority shareholding in Barcelona Container Depot Service Group is an important development for the company, which is one of the latest and most significant additions to AD Ports Group. The move is a testament to Noatum's commitment to maintaining its strategic investment portfolio and sustaining a meticulous focus on its long-term goals. With Noatum leading our Logistics Cluster, AD Ports Group remains dedicated to delivering exceptional value to our customers and partners whilst meeting our ambitious growth objectives and driving our wise leadership's vision for economic diversification," stated Captain Mohamed Juma Al Shamisi, managing director and Group CEO of AD Ports Group.
"We are pleased to announce the successful divestiture of our minority 27.9% shareholding in BCDS. The decision allows us to optimise our asset portfolio and allocate resources to core initiatives that drive the growth and expansion of our integrated terminals, maritime, and logistics businesses. We look forward to new opportunities to strengthen our position and value offerings to the European and global marketplace," said Antonio Campoy, CEO of Noatum.
