AD Ports board recommends shareholders accept US$1.70 per share buyout from L’imad
The offer is on the table until September 15, so shareholders have time to decide whether to take the deal.
UAE – The board of AD Ports Group has strongly recommended its shareholders accept an AED 6.25 (approx. US$1.70) per share offer from L’imad to take full control of the Abu Dhabi-based ports, as the sovereign investment arm moves to consolidate its strategic assets and transition the company into a private entity for aggressive global expansion.
The board reached that conclusion following what is described as a fairness opinion from its independent financial adviser, HSBC.
L’imad is Abu Dhabi’s sovereign investment arm, and ADQ is a wholly owned subsidiary of L’imad. It launched a voluntary tender offer on August 18 to buy the remaining shares of AD Ports.
ADQ is already the majority shareholder in AD Ports, with a 75.42% stake. Under the tabled offer, shareholders will receive AED6.25 (US$1.70) in cash for each share tendered.
Financial Value and Shareholder Premium
The price represents a 23% premium to AD Ports’ closing price before the bid was announced and is about 95% above the AED3.20-a-share price at which the company listed on the Abu Dhabi Securities Exchange in 2022. The offer values AD Ports at about US$8.6 billion (AED31.8 billion).
This strategic move aims to transition the logistics giant into a private entity, enabling aggressive global expansion and acquisitions without the limitations of public listing.
Moreover, the offer price of AED 6.25 per share provides a significant premium over recent trading values and has been validated by an HSBC fairness opinion.
Strategic Vision and Global Expansion
AD Ports operates about 40 terminals in the UAE and has a presence in about 50 markets globally. The offer is on the table until September 15, so shareholders have time to decide whether to take the deal.
HSBC Middle East was appointed to run the rule over L’imad’s offer on August 21. L’imad has stated that the offer gives shareholders a very attractive opportunity to realize certain, immediate value.
L’imad was established in 2025 and has aggressively expanded its portfolio since inception. In July, Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, approved the fund’s investment and operational framework for strategic sectors.
Finally, the move by L’imad is the latest in a series of deals it has brokered to consolidate its strategic assets as it seeks to build a large portfolio.
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