Abu Dhabi Ports Company PJSC (ADX:ADPORTS) agreed to acquire Noatum Logistics SL on November 18, 2022. Abu Dhabi will acquire Noatum Logistics for an Enterprise Value of AED 2.5 billion. Noatum has a revenue of AED 6.91 billion and EBIDTA of AED 555 million of FY2021.The transaction implying an LTM EV/EBITDA of 4.6x.

This value and earnings accretive acquisition, which significantly broadens AD Ports Group?s global footprint and positions it among the leading logistics and freight forwarding companies in the world, will be fully funded through a new acquisition loan. The transaction is Subject to regulatory approvals. The transaction is expected to complete in first half of 2023.

Rothschild & Co acted as the financial advisor and Ibrahim Mubaydeen, Nick Stuart and Fernando Torrente of Allen & Overy LLP acted as as the legal advisor and Bain & Co completed the commercial due diligence and PwC the financial and tax due diligence for AD Ports Group in this transaction. Herbert Smith Freehills advised the sellers. BofA Securities, Inc. acted as exclusive sell-side financial advisor to Noatum Logistics SL.