Arabian Post Staff -Dubai
AD Ports Group’s subsidiary, Noatum, has secured a significant foothold in the Egyptian maritime sector by acquiring a majority share in Safina B.V., a leading provider of maritime agency services. This strategic move aligns with AD Ports Group’s broader expansion in Egypt and the Middle East.
The acquisition, set to be finalized in the third quarter of 2024, strengthens Noatum’s position in the region and integrates Safina’s established network of services across key Egyptian ports, including Alexandria, Damietta, and Port Said. Safina, which has been a prominent player in the Egyptian maritime industry for decades, will be rebranded as Noatum Maritime Egypt, though its founders will retain a minority stake.
This acquisition not only expands Noatum’s service offerings but also enhances its ability to serve clients across various sectors, leveraging Safina’s extensive experience and operational expertise in the region. The integration of Safina into Noatum’s global network is expected to provide significant growth opportunities, particularly in the Mediterranean and Red Sea markets.
Terry Gidlow, CEO of Noatum Maritime, emphasized that this acquisition will enable Noatum to optimize its operations and better meet the needs of its customers in Egypt and beyond.
This move is part of AD Ports Group’s continued investment in the region, complementing its existing agreements for the management of multiple ports in Egypt.
