Allen & Overy advised Abu Dhabi Ports Group on acquisition of Noatum
Allen & Overy advised Abu Dhabi Ports Group on acquisition of Noatum
Propels it to become one of the most significant logistics and freight forwarding organizations in the world
Allen & Overy has advised Abu Dhabi Ports Group (ADPG) on its acquisition of the Spanish logistics firm Noatum for AED2.5 billion (USD681 million).
Noatum has over 2,600 employees and operates in 26 countries, including Spain, the United States, the United Kingdom, and other Asian and European markets.
The investment will significantly extend the Group's global connectivity to create a market-leading international logistics brand. Noatum will lead ADPG's logistics cluster, consolidating the company's existing offering into its operations.
The move marks the Group's third major international acquisition this year, following the acquisition of a 70 percent stake in Transmar and TCI in September and the acquisition of an 80 percent stake in Dubai-based Global Feeder Shipping, recently.
The Allen & Overy team was led by Abu Dhabi managing partner Ibrahim Mubaydeen, Abu Dhabi corporate partner Nick Stuart, and Spanish corporate partner Fernando Torrente.
Mubaydeen and Stuart remarked, "It is a great pleasure for us to support the Abu Dhabi Ports Group on their growth strategy and ambition to become one of the most significant global logistics platforms, including advising on the strategic transaction."
