A&O advises Abu Dhabi Ports Group on the acquisition of Noatum
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Allen & Overy has advised Abu Dhabi Ports Group on its acquisition of Spanish logistics firm Noatum for AED2.5 billion (USD681 million). The acquisition propels AD Ports Group to one of the most significant logistics and freight forwarding companies in the world.
The investment in Noatum, which has over 2,600 employees and operates in 26 countries, including Spain, United States, United Kingdom and other Asian and European markets, will significantly extend AD Group’s global connectivity to create a market-leading international logistics brand. Moving forward, Noatum will lead AD Ports Group’s Logistics Cluster, consolidating the company’s existing logistics offering into its operations.
This marks the group’s third major international acquisition this year, following the acquisition of a 70% stake in Transmar and TCI in September and the acquisition of 80% stake in Dubai-based Global Feeder Shipping this month.
The A&O team was led by Abu Dhabi managing partner Ibrahim Mubaydeen, Abu Dhabi corporate partner Nick Stuart and Spanish corporate partner Fernando Torrente. Ibrahim and Nick commented: “It is a great pleasure for us to support Abu Dhabi Ports Group on their growth strategy and ambition to become one of the most significant global logistics platforms, including advising on this strategic transaction.”
The acquisition remains subject to regulatory approvals and is expected to close in the first half of next year.