Abu Dhabi Ports (AD Ports) is in serious talks to acquire Indonesian logistics and coastal container shipping company Meratus, the Loadstar reported, citing sources from industry tracking platform Linerlytica. July had seen reports that Meratus was seeking a sale at a USD 2 bn valuation, with wide interest from prospective buyers, Bloomberg had reported. AD Ports has emerged as a favorite for the sale as the Abu Dhabi-based port operator looks to expand vertically, the Loadstar said.

The acquisition will expand AD Ports’ operations to Indonesia: “Meratus operates two terminals in Indonesia (Jakarta and Surabaya) so it would extend AD Ports’ footprint,” Linerlytica analyst Tan Hua Joo told the Loadstar. “Otherwise, Meratus’s shipping and logistics operations are almost entirely focused on Indonesia, so there’s little synergy with AD Ports’ existing operations.”

AD Ports already has a maritime shipping arm: The company’s Safeen Group operates the world’s third largest container shipping line with a 100k TEU capacity, according to the company website. AD Ports is also hoping to closethe purchase of an 80% stake in Dubai-based container shipping company Global Feeder Shipping.

This will be the third AD Ports acquisition this year: July saw the port operator acquire a 100% stake in Spanish logistics outfit Noatum after receiving regulatory approval. Last month, Noatum also moved to acquire Spanish trucking company Sesé Auto Logistics. The move is subject to regulatory approvals and is expected to be finalized in 1Q 2024.

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