Abu Dhabi's L'IMAD Sovereign Wealth Fund Bids to Fully Acquire AD Ports
Abu Dhabi's sovereign wealth fund, L'IMAD, has announced its intention to acquire the remaining shares it does not already own in global port operator AD Ports, offering AED 6.25 per share.
Abu Dhabi's prominent sovereign wealth fund, L'IMAD, under the leadership of the emirate's Crown Prince, has unveiled plans to fully acquire AD Ports Group. The fund, which currently holds a 75.42% stake in AD Ports through its subsidiary ADQ, is seeking to purchase the outstanding shares through a voluntary conditional cash offer.
Acquisition Details
L'IMAD's offer stands at AED 6.25 per share, representing a 23% premium over AD Ports' closing share price of AED 5.10 on August 14. This valuation places the total worth of AD Ports Group at more than AED 31.2 billion (approximately $8.6 billion), according to Reuters' calculations.
The sovereign wealth fund has confirmed that it possesses "sufficient resources" to cover the cash consideration required for the acquisition, ensuring that all AD Ports shareholders who accept the offer will be paid in full.
Questions, answered
- What is the offer price per share for AD Ports?
- L'IMAD is offering **AED 6.25 per share** to acquire the remaining shares of AD Ports.
- What is the premium offered over the previous share price?
- The offer price represents a **23% premium** compared to AD Ports' closing share price of AED 5.10 on August 14.
- What is the total valuation of AD Ports Group under this offer?
- Based on the offer, AD Ports Group is valued at more than **AED 31.2 billion**, which translates to approximately $8.6 billion.
- Which entity is making the acquisition bid?
- The acquisition bid is being made by L'IMAD, a sovereign wealth fund of Abu Dhabi, through its wholly-owned subsidiary ADQ.
- What percentage of AD Ports does L'IMAD already own?
- L'IMAD, through ADQ, currently owns a **75.42% stake** in AD Ports' shares.
This brief was summarised and rewritten by Gaia Living from public reporting. Figures and details reflect the original sources.