Arab Finance: Noatum, a subsidiary of AD Ports Group, has acquired a majority stake in Safina B.V., an Egyptian company providing shipping and maritime agency services across Egypt and the Middle East, Noatum said in a statement.

The acquisition is expected to be completed in the third quarter (Q3) of 2024.

This move aims to expand Noatum’s footprint in key markets and diversify its services across the Middle East and North Africa.

Safina, operating from Cairo and serving up to 15 Egyptian ports, will be rebranded as Noatum Maritime Egypt, with its founders retaining a minority stake.

This will leverage Noatum’s international network to expand its client base and attract new business.

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