Abu Dhabi enters into Spanish port logistics with the purchase of Noatum for 660 million euros

The transaction is expected to be formalized in the first half of 2023.

Abu Dhabi enters into Spanish port logistics with the purchase of Noatum for 660 million euros

The transaction is expected to be formalized in the first half of 2023

MADRID, 18 Nov. (EUROPA PRESS) -

AD Ports Group, a port company controlled by the Abu Dhabi sovereign wealth fund, has acquired 100% of Noatum, the main logistics operator of Spanish ports created from the former Dragados SPL (of ACS), for 660 million euros.

Noatum accumulates revenue of 1,800 million euros and a gross operating result (Ebitda) of 145 million euros in the last twelve months, which will allow the Emirati group to consolidate its presence in the world port sector, as reported by the company .

Noatum's origins date back to 1963 and it operates in three business areas --Logistics, Maritime and Port Terminals--, with important positions in the Spanish market, as well as in Turkey, the United States, the United Kingdom, China and Southeast Asia.

36% of its income comes from the western Mediterranean and 23% from the eastern. The rest is divided mainly into North America, Asia, South America and Northern Europe.

Noatum's Global Logistics business is specialized in comprehensive merchandise management, project logistics, contract logistics, international supply chain management, customs and electronic solutions, with offices and a network of agents around the world.

The company's Terminal operations include 15 Ro-Ro, dry bulk, general cargo and container terminals in Spain, while its Maritime division provides shipping agency services, including subcontracting and ancillary services, and cargo services, such as liquid bulk. , break-bulk, refrigerated and dry cargo.

The company, which employs more than 2,600 people, offers customized multimodal transportation solutions, end-to-end logistics services and advanced port operations in its key markets, and aligns with AD Ports Group's integrated business model.

In addition, the company has specialized divisions in automotive, project cargo and port logistics and offers comprehensive supply chain solutions in the oil and gas, renewable energy, food, industrial manufacturing, pharmaceutical and healthcare industries, and retail with solutions personalized for clients.

Some of the synergies that this operation will unleash include joint purchases, stronger relationships with shipping companies to attract them to the group's terminals, expansion of the agency business taking advantage of Noatum's Maritime business, the integration of corporate functions and services, the transfer of best practices and technological improvement.

Subject to regulatory approvals, the transaction is expected to close in the first half of 2023. As part of the transaction, Noatum's management has committed to ensuring integration for a period of three years.

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