{"id":88594,"date":"2024-02-01T00:00:00","date_gmt":"2024-02-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/five-holdings-bags-spanish-company-chioro-for-aed-210-26-mn\/"},"modified":"2024-02-01T00:00:00","modified_gmt":"2024-02-01T00:00:00","slug":"five-holdings-bags-spanish-company-chioro-for-aed-210-26-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/02\/01\/five-holdings-bags-spanish-company-chioro-for-aed-210-26-mn\/","title":{"rendered":"Five Holdings bags Spanish company Chioro for AED 210.26 mn"},"content":{"rendered":"

Dubai-based real estate and hospitality group <\/strong>Five Holdings<\/a><\/strong> completed the acquisition of <\/strong>Spanish company Chioro for AED 210.26 mn (EUR 52.75 mn)<\/strong>, in a bid to diversify its property portfolio, according to a Nasdaq Dubai disclosure<\/a>. The purchase agreement hands Five ownership of El Hotel Pacha in Ibiza and its adjacent land plot, the statement said, adding that it previously had leasing rights to the hotel. <\/p>\n

Five\u2019s plans in Ibiza:<\/strong> The company is looking to develop the land plot into a residential development dubbed Pacha Residences.<\/p>\n

Payment plan: <\/strong>Five Holdings is shelling out some AED 44.8 mn (EUR 11.3 mn) in equity financing for the purchase, with a deferred payment plan additionally set up for AED 15.9 mn (EUR 4 mn). The remaining AED 149.4 mn (EUR 37.5 mn) will come from an external loan.<\/p>\n

The Pacha brand is not new to Five: <\/strong>Five Holdings previously acquired Spanish hospitality company Pacha Group<\/a> for AED 1.21 bn (EUR 303 mn) in October<\/a>, funded via a green bond issuance and revolving credit facility. The purchase handed Five Holdings\u2019 ownership of the Pacha Nightclub in Spain\u2019s Ibiza island, in addition to Destino Pacha Hotel. <\/p>\n

\n

OTHER M&A NEWS-<\/p>\n

AD Ports Group\u2019s logistics subsidiary <\/strong>Noatum<\/a><\/strong> has completed its acquisition of 100% of Spain-based<\/strong> logistics outfit <\/strong>Ses\u00e9 Auto Logistics<\/a><\/strong>for <\/strong>EUR 81 mn<\/strong>, according to a press release<\/a>. The acquisition has been sanctioned by all European regulatory bodies. We first got wind of the buyout in October 2023<\/a>, when the move was still pending regulatory approval. <\/p>\n

What happens next?<\/strong> Ses\u00e9 Auto Logistic will be fully integrated into Noatum starting this month, according to the statement. The acquisition will allow the AD Ports subsidiary to offer integrated end-to-end logistics solutions, including RoRo (roll-on, roll-off) handling, vehicle transportation, and delivery in Spain. The outfit will be rebranded as Noatum Auto Logistics, with efforts to integrate employees ongoing, the statement said. <\/p>\n

About <\/strong>Ses\u00e9:<\/strong>The company operates in most European countries, with a fleet of upwards of 200 trucks, with offices in Spain, Germany, Poland, Czech Republic, and Hungary.<\/p>\n

Noatum has been on an expansion spree:<\/strong> The outfit rebranded AD Ports\u2019 freight-forwarding arm Micco Logistics to Noatum Logistics Middle East earlier this week<\/a>, taking over Micco\u2019s operations as the freight forwarder for upwards of 80% of Abu Dhabi\u2019s oil, gas, and petrochemical projects. Noatum acquired 100% of APM Terminals Castell\u00f3n<\/a> in Spain for EUR 10 mn earlier this month<\/a>, as the company looked to consolidate its operations in the country. <\/p>\n

REMEMBER-<\/strong> AD Ports Group finalized its acquisition of Spain-based Noatum in mid-2023<\/a>, after receiving regulatory greenlight, with the outfit being valued at EUR 660 mn at the time.<\/p>\n","protected":false},"excerpt":{"rendered":"

Five Holdings is financing the purchase with a mix of debt and equity<\/p>\n","protected":false},"author":1,"featured_media":88595,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[87,7,1151,477,60,98],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-dubai","tag-enterpriseam-uae","tag-five-holdings","tag-hospitality","tag-ma-watch","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"e07a678f-432f-4b12-97e1-8219f8771233","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2756.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Five Holdings bags Spanish company Chioro for AED 210.26 mn","related_issue":[88584],"teaser":"Five Holdings is financing the purchase with a mix of debt and equity","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.1d78b494-704e-4781-9939-4c26708d918d.mp3"},"yoast_head":"\nFive Holdings bags Spanish company Chioro for AED 210.26 mn - 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