UAE port operator the AD Ports Group has acquired an additional 30 per cent equity stake valued at AED1.1 billion (US$300 million) in Dubai-based Global Feeder Shipping (GFS), raising its holding to 81 per cent.
In February 2024, the AD Ports Group acquired a 51 per cent stake in GFS, 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 AED3.67 billion (US$1 billion) set in 2024.
The acquisition will be funded through a mix of debt and asset monetisation transactions.
The AD Ports Group said the increase in ownership in GFS to 81 per cent reinforces the group’s cash flow generation and provides greater strategic and operational control over this core asset, enabling deeper integration with the group’s ports, economic cities and logistics operations.
The company added that this will further strengthen the end-to-end trade and logistics solutions it offers to customers worldwide.
