AD Ports Group buys 80% stake in Global Feeder Shipping for $800mn

in ad •  2 years ago 

Abu Dhabi Securities Exchange-listed AD Ports Group has signed an agreement to acquire an 80 percent equity stake in Dubai-based Global Feeder Shipping (GFS), a global container shipping company. "The total purchase consideration for the 80 percent stake amounts to AED 2.9 billion ($800 million), implying a 100% enterprise value of AED 3.7 billion ($1 billion), with the acquisition being fully funded through a new acquisition loan," says a release from AD Ports.

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ad ports group
2 years ago by

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