Comment / With GFS buy, AD Ports becomes an M&A gorilla

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We return to the Abu Dhabi-listed AD Ports, which has quadrupled down – if such a phrase exists – on its ambitions to transform itself from a humble port owner into a multi-operational shipping company after agreeing to buy an 80% stake in Global Feeder Services (GFS) for $800m, as reported by The Loadstar yesterday.

(The remaining 20% will be retained by GFS management; leaving existing shareholders with a minority stake seems to be its modus operandi in M&A. Implied total ...