Acquisition of controlling stake in the company to expand Noatum Maritime’s presence in the Middle East region
Noatum has the acquisition of a majority stake in Safina BV, a leading provider of maritime agency and cargo services in Egypt and across the Middle East region. The deal is expected to close in Q3-2024.
The acquisition by Noatum Maritime marks a significant milestone in its strategic growth as it leverages Safina’s expertise, capacity and reputation in Egypt’s maritime agency market, according to a press release.
Expansion
The acquisition of Safina is a significant step for Noatum Maritime in its ongoing expansion across the Mediterranean, which recently included the launch of its offices in Türkiye. Along with its growth in the Middle East region, which represents a key market for the company’s global strategy, the move also integrates well into AD Ports Group’s broader presence in Egypt, which was recently marked with signing of concession agreements for the management and operation of cruise and Ro-Ro terminals at Safaga, Hurghada, Sharm El Sheikh and Sokhna ports.
Safina has evolved as a key player in the Egyptian maritime industry, offering comprehensive agency services and maritime logistics to shippers serving the metals, minerals, and fertilisers sectors. With Noatum’s extensive international network, Safina will be in an excellent position to access new customers from more diverse industries and strengthen its local presence.
“By leveraging Safina’s four decades of experience and local expertise, we aim to further optimise our operations, strengthen customer relationships, and drive sustainable growth,” stated Terry Gidlow, Chief Executive Officer, Noatum Maritime, Noatum, Logistics Cluster, AD Ports Group.
