AD Ports buys into Spanish shipbuilding with Astilleros Balenciaga takeover

AD Ports Group has moved deeper into European shipbuilding after snapping up Spain’s Astilleros Balenciaga shipyard, strengthening its push into offshore wind support vessels. The Abu Dhabi-listed group said its drydocks arm Safeen Drydocks, part of Noatum Maritime, has acquired 100% of the Basque-based yard for €11.2m ($13.1m). The deal adds another foothold in Spain …

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