Noatum, a subsidiary of Abu Dhabi-based AD Ports Group, has acquired a majority stake in Egyptian shipping agency Safina B.V., marking a significant expansion of its operations in Egypt.
The deal, expected to close in Q3 2024, was announced by AD Ports Group, though the financial terms and the specific size of the stake have not been disclosed.
Safina operates in key Egyptian ports along the Mediterranean and Red Sea, making it a valuable addition to Noatum's portfolio. Following the acquisition, Safina will be rebranded as Noatum Maritime Egypt and integrated into Noatum’s existing maritime services.
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This rebranding aims to strengthen Noatum’s presence in the region and enhance the company's service capabilities across critical maritime routes.
The founders of Safina will retain a minority stake, ensuring that their local expertise continues to support the company’s operations. This move is part of Noatum’s broader strategy to leverage local knowledge while expanding its global reach.
Noatum’s expansion into Egypt reflects the increasing importance of the country’s ports as strategic hubs for global maritime trade, particularly in the Mediterranean and Red Sea regions. The integration of Safina into Noatum Maritime is expected to bring operational synergies and enhance service delivery in these vital maritime corridors.
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