ADQ takes 17% stake in regional logistics platform in $1.3bn deal
Abu Dhabi sovereign holding company ADQ deepens its bet on cross-border logistics infrastructure across the GCC and Levant.
ADQ said Tuesday it had agreed to acquire a 17 per cent stake in a regional logistics platform valued at $1.3 billion, in a deal that will see the holding company take two seats on the platform's board. The transaction is subject to regulatory approval in the UAE, Saudi Arabia and Jordan.
The platform, which operates inland container depots, last-mile networks and customs-bonded yards in nine cities, plans to use the proceeds to expand cold-chain capacity and digitise customs documentation. ADQ said the investment fits its long-term thesis on trade-corridor infrastructure between the Arabian Gulf and the eastern Mediterranean.
Bankers familiar with the transaction said the deal closed at a multiple of roughly 11 times forward EBITDA.
Bankers familiar with the transaction said the deal closed at a multiple of roughly 11 times forward EBITDA. The platform's chief executive said the new capital would not change the company's existing dividend policy.