Why China's port giants are sitting out the big M&A cycle
Avoiding the post-mortem
ID 383866 © Kmitu | Dreamstime.com
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 ...
Comment on this article