L’imad Clears All Key Conditions to Secure Full Ownership of AD Ports Group

Abu Dhabi’s sovereign investment vehicle L’imad has successfully cleared all key conditions required to proceed with its voluntary cash offer to acquire up to 100 per cent of AD Ports Group. ADQ, a wholly owned subsidiary of L’imad, is offering Dh6.25 ($1.70) per share for the remaining AD Ports shares it does not already own.

Currently, L’imad, through ADQ, owns 75.42 per cent of the company, having launched a voluntary tender offer on August 18 to acquire the remaining issued and paid-up share capital. AD Ports announced on Tuesday that it had received confirmation from ADQ that all offer conditions have been met, aside from customary notifications to the UAE Capital Market Authority and Abu Dhabi Securities Exchange. The settlement is anticipated to occur no later than October 9, 2026, according to a bourse filing by AD Ports.

This transaction grants L’imad full ownership of the ports and logistics group. Furthermore, it enables AD Ports to pursue long-term goals—such as investments and acquisitions—more effectively, free from the funding constraints or short-term return expectations associated with public markets.

Following L’imad's initial acquisition announcement, AD Ports appointed HSBC Bank Middle East as its independent financial adviser on August 21. L’imad stated that the offer provides shareholders with an attractive opportunity to secure immediate value while supporting AD Ports' long-term expansion.

This move is part of L’imad's broader strategy to consolidate strategic assets across Abu Dhabi in sectors including energy and utilities, ports and logistics, aviation, urban development, and industrial operations. Established last year, the sovereign fund has been actively expanding its portfolio. In July, Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, approved the investment and operational framework for L’imad in strategic sectors. Additionally, L’imad recently completed the full acquisition of Abu Dhabi National Energy Company, known as Taqa, which is currently awaiting regulatory approval to delist from the ADX. L’imad also holds a substantial stake in Abu Dhabi real estate developer Modon Holding.

In financial updates, AD Ports Group reported an 86 per cent year-on-year increase in second-quarter net profit, driven by successful efforts to diversify trade routes away from the Strait of Hormuz amid the ongoing Iran war. Net profit attributable to the company's owners reached Dh596.7 million for the three-month period.