L'imad Increases Stake in AD Ports Group to 98.5% Following Tender Offer

Abu Dhabi's sovereign investor L'imad is significantly increasing its stake in AD Ports Group, a global ports operator, to 98.5 per cent. This follows the successful completion of a voluntary tender offer initiated on August 18 by L'imad, through its wholly-owned subsidiary ADQ, to acquire remaining shares not already owned.

ADQ, which previously held 75.42 per cent of AD Ports, offered AED 6.25 ($1.70) for each outstanding share. By the close of business on September 15, acceptances were received for over 23.08 per cent of AD Ports' share capital.

Offer Completion and Payment Details

All conditions of the tender offer have been met, with the exception of standard notifications to the Capital Market Authority and the Abu Dhabi Securities Exchange (ADX), where AD Ports Group shares are traded. The settlement of the offer, including payments to AD Ports shareholders and the registration of shares in ADQ's name, is expected to be completed no later than October 9.

AD Ports Group manages approximately 40 terminals across the UAE and operates in nearly 50 global markets. It forms part of L'imad's broader ports and logistics platform, which also includes major assets such as Etihad Rail and Aramex. This move aligns with L'imad's strategy of expanding its investment portfolio both domestically and internationally, as demonstrated by recent acquisitions such as the remaining shares in Abu Dhabi National Energy Company (Taqa) and a significant stake in real estate developer Modon Holding.