AD Ports Group has exercised a call option to increase its stake in Global Feeder Shipping (GFS) from 51% to 81% on 24 June 2026. The move marks the end of a prolonged 4 year courtship that was first announced on 3 November 2022 when AD Ports signed an agreement to acquire a 80% stake in GFS for total consideration of AED 2.9 Bn (US$800m), with the Maghami family retaining a 20% stake in GFS.
The transaction was expected to close in the first quarter of 2023 but the final completion was delayed