AD Ports Group Increases Ownership in Global Feeder Shipping to 81% by Acquiring an Additional 30% Stake

In February 2024, AD Ports Group acquired a 51% stake in Dubai-based GFS, the ‎world’s fourth-largest container feeder shipping line by capacity, with a call option to ‎increase its ownership by December 2026. The Group has now exercised this call ‎option at the same total Enterprise Value of AED 3.67 billion (USD 1 billion) set in ‎‎2024. The acquisition will be funded through a mix of debt and asset monetisation ‎transactions. ‎AD Ports Group’s container feeder shipping business, which involves the transport of ‎goods using small and medium-sized vessels between major transit hubs and smaller ‎ports, has grown rapidly since its initial launch in 2020. GFS is among the Group’s ‎most strategically significant assets. Read More......