AD Ports Group (AD Ports) has announced that Noatum has completed the divestment of its 27.9 per cent stake in Barcelona Container Depot Service Group (BCDS) for an equity value of €11 million ($11.56 million).
The transaction resulted in a one-off capital gain of €10 million ($10.51 million).
BCDS specialises in the storage, maintenance, repair, and cleaning of dry and reefer containers, as well as ISO tanks, and operates from six locations around Spain, with the majority of the activity performed in Barcelona.
The disposal is consistent with AD Ports Group’s objective to proactively manage its asset portfolio and monetise non-core participations and investments where majority ownership and/or operational control is not possible.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “The sale of Noatum’s minority shareholding in Barcelona Container Depot Service Group is an important development for the company, which is one of the latest and most significant additions to AD Ports Group.
“The move is a testament of Noatum’s commitment in maintaining its strategic investment portfolio and sustaining a meticulous focus on its long-term goals.
“With Noatum leading our Logistics Cluster, AD Ports Group remains dedicated to delivering exceptional value to our customers and partners whilst meeting our ambitious growth objectives and driving our wise leadership’s vision for economic diversification.”
Antonio Campoy, Chief Executive Officer, Noatum, Logistics Cluster, AD Ports Group said: “We are pleased to announce the successful divestiture of our minority 27.9 per cent shareholding in BCDS.
“The decision allows us to optimise our asset portfolio and allocate resources to core initiatives that drive the growth and expansion of our integrated terminals, maritime, and logistics businesses.
“We look forward to new opportunities to strengthen our position and value offerings to the European and global marketplace.”