News / UAE's AD Ports Group scoops up Noatum Logistics for $680m

© Rattana Rueangha

It’s been a long and winding road for Noatum Logistics, formerly known as MIQ and, before that, YRC Logistics.

AD Ports Group said today it had acquired Noatum for AED2.5bn ($680m), as it looks to emulate rivals such as DP World and PSA into the end-to-end logistics market.

The group “intends to create a market-leading international logistics brand, merging its existing logistics business with Noatum to create a significant presence in the region and enhancing services across the company’s global footprint”.

Noatum, with ...