AD Ports Group has announced that it has acquired an additional 30% equity stake valued at AED 1.1bn (US$ 300mn) in one of its most strategic assets, Global Feeder Shipping (GFS), raising its holding to 81%, according to a press statement received.
In February 2024, AD Ports Group acquired a 51% stake in Dubai-based GFS, the world’s fourth-largest container feeder shipping line by capacity, with a call option to increase its ownership by December 2026.
The Group has now exercised this call option at the same total Enterprise Value of AED 3.67bn (US$ 1bn) set in 2024. The acquisition will be funded through a mix of debt and asset monetisation transactions.
Through a sustained period of maritime disruption, GFS has maintained and expanded trade connectivity where other operators withdrew, ensuring the uninterrupted flow of cargo for customers across the GCC region, whilst serving the Indian Subcontinent, Red Sea, Far East, Mediterranean, and Africa regions — reinforcing AD Ports Group’s role as a reliable enabler of trade through volatility.
Greater strategic control
The increase in ownership to 81% reinforces AD Ports Group’s cash flow generation and provides greater strategic and operational control over this core asset, enabling deeper integration with the Group’s ports, economic cities and logistics operations.
“Our increased ownership in GFS allows us to deepen its integration within the Group’s portfolio and enables further growth across our shipping business. We will now be in a stronger position to accelerate our journey to enable trade for our stakeholders,” stated Captain Mohamed Juma Al Shamisi, Managing Director & Group CEO, AD Ports Group.
“Staying flexible and keeping customers at the centre of what we do has always been our priority, and I am excited to build on this momentum as we broaden our network and deliver even greater value in the months and years ahead,” added Amir Maghami, CEO, Global Feeder Shipping.
