Abu Dhabi Ports acquires 80% of GFS for 2.9 billion dirhams, becoming the largest independent provider of regional container freight services in the world

Abu Dhabi Ports Group announced the signing of an agreement to acquire 80% stakes in Global Feeder Shipping (GFS), the global container shipping company.

The total value of the 80% stake in the company is 2.9 billion dirhams ($800 million), while the institutional value is 3.7 billion dirhams ($1 billion), and the entire transaction will be financed through new acquisition financing.

The strategic investment with cumulative value contributes to the significant expansion of the group’s global presence in the regional container shipping sector, and supports the implementation of its long-term strategy to become one of the most prominent players globally in the short-term and regional shipping sectors.

Over the past 12 months, Dubai-based GFS has recorded a strong performance with revenues of $1,085 million and EBITDA of $521 million (and an EBITDA margin of 48%). ), a net profit of $481 million.

container ships

Global Feeder Shipping owns one of the largest fleet of container ships in the world, which includes 26 owned and operated ships with a total volume of 72,500 TEUs, and its operations cover the Middle East, the Indian subcontinent, and Southeast Asia, and its services link the United Arab Emirates to India, Pakistan and Sri Lanka. Egypt, Sudan, Djibouti, Yemen, Saudi Arabia, Bahrain, China, South Korea, Djibouti, Vietnam, etc.