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AD Ports Group completes acquisition of Noatum

Monday, 3 July 2023 06:16

By Reuters

Twitter

Abu Dhabi Ports Group has completed its acquisition of Noatum, a global logistics services provider operating in 26 countries, after obtaining approval from regulatory bodies.

The acquisition was valued at AED 2.65 billion and brings together two major players in the trade and logistics industry.

Noatum will lead AD Ports Group's Logistics Cluster, integrating its businesses and team of 2,800 professionals.

The acquisition expands AD Ports Group's global reach and services, generating synergies in revenue, cost savings, purchasing, best practices, market expertise, and technology adoption.

The acquisition was announced in November 2022 and has now received all necessary regulatory approvals.

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