Noatum Announces the Divestment of Minority Shares in Barcelona Container Depot Service Group
October 04, 2023
In-Line with AD Ports Group’s Strategy to Optimise Asset Portfolio and Divest Non-Core Participations and Investments
Madrid, Spain/Abu Dhabi, UAE – 4 October 2023: AD Ports Group (ADX: ADPORTS) announces that Noatum, which now leads its Logistics Cluster operations, completed the divestment of its 27.9% stake in Barcelona Container Depot Service Group (BCDS) for an equity value of EUR 11 million, resulting in a one-off capital gain of EUR 10 million.
BCDS is specialised in storage, maintenance, repair, and cleaning services of Dry and Reefer containers as well as ISO Tanks, operating from six locations across Spain, with the bulk of its business being conducted in Barcelona.
The divestment is in line with AD Ports Group’s strategy to proactively manage its asset portfolio and monetise non-core participations and investments, for which there is no path for majority ownership and/or operational control.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: "The sale of Noatum’s minority shareholding in Barcelona Container Depot Service Group is an important development for the company, which is one of the latest and most significant additions to AD Ports Group. The move is a testament of Noatum’s commitment in maintaining its strategic investment portfolio and sustaining a meticulous focus on its long-term goals. With Noatum leading our Logistics Cluster, AD Ports Group remains dedicated to delivering exceptional value to our customers and partners whilst meeting our ambitious growth objectives and driving our wise leadership’s vision for economic diversification."
Antonio Campoy, Chief Executive Officer, Noatum, Logistics Cluster, AD Ports Group said: "We are pleased to announce the successful divestiture of our minority 27.9% shareholding in BCDS. The decision allows us to optimise our asset portfolio and allocate resources to core initiatives that drive the growth and expansion of our integrated terminals, maritime, and logistics businesses. We look forward to new opportunities to strengthen our position and value offerings to the European and global marketplace.”
Madrid, Spain/Abu Dhabi, UAE – 4 October 2023: AD Ports Group (ADX: ADPORTS) announces that Noatum, which now leads its Logistics Cluster operations, completed the divestment of its 27.9% stake in Barcelona Container Depot Service Group (BCDS) for an equity value of EUR 11 million, resulting in a one-off capital gain of EUR 10 million.
BCDS is specialised in storage, maintenance, repair, and cleaning services of Dry and Reefer containers as well as ISO Tanks, operating from six locations across Spain, with the bulk of its business being conducted in Barcelona.
The divestment is in line with AD Ports Group’s strategy to proactively manage its asset portfolio and monetise non-core participations and investments, for which there is no path for majority ownership and/or operational control.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: "The sale of Noatum’s minority shareholding in Barcelona Container Depot Service Group is an important development for the company, which is one of the latest and most significant additions to AD Ports Group. The move is a testament of Noatum’s commitment in maintaining its strategic investment portfolio and sustaining a meticulous focus on its long-term goals. With Noatum leading our Logistics Cluster, AD Ports Group remains dedicated to delivering exceptional value to our customers and partners whilst meeting our ambitious growth objectives and driving our wise leadership’s vision for economic diversification."
Antonio Campoy, Chief Executive Officer, Noatum, Logistics Cluster, AD Ports Group said: "We are pleased to announce the successful divestiture of our minority 27.9% shareholding in BCDS. The decision allows us to optimise our asset portfolio and allocate resources to core initiatives that drive the growth and expansion of our integrated terminals, maritime, and logistics businesses. We look forward to new opportunities to strengthen our position and value offerings to the European and global marketplace.”