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AD Ports looks set to truly be on an M&A roll after announcing today that it has agreed to buy Spanish ports and logistics group Noatum Maritime, valuing it €660m in enterprise value (EV).

The total consideration is for a 100% ownership, and at AED2.5bn (€660m) it implies a last-twelve-months EV/Ebitda of 4.6x, pre-synergies.

The acquirer defined the deal as “value and earnings accretive”, without elaborating, stating that it “significantly broadens” its global footprint and “positions it among the leading logistics and ...

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