L’IMAD secures over 98.5% ownership of AD Ports Group
The offer represented a 23% premium over AD Ports Group’s August 14, 2026, closing price of US$1.39 (AED 5.10).
UAE – L’IMAD has secured dominant ownership of AD Ports Group, increasing its holding to more than 98.5% after its voluntary tender offer closed on September 15, 2026, according to the company statement
Before the transaction, L’IMAD, a sovereign investor of the Government of Abu Dhabi and the owner of Abu Dhabi Developmental Holding Company (ADQ), held 75.42% of AD Ports Group.
When the offer period closed, acceptances totaled 23.08% of AD Ports Group’s issued and paid-up capital.
Offer terms and settlement
Shareholders who tendered stock will receive US$1.70 (AED 6.25) in cash for each accepted share. Settlement will occur no later than October 9, 2026.
ADQ will register the acquired shares in its name within the same timetable. L’IMAD has satisfied all offer conditions except for the customary notifications to the Capital Market Authority and Abu Dhabi Securities Exchange.
The offer represented a 23% premium over AD Ports Group’s August 14, 2026, closing price of US$1.39 (AED 5.10). It also represented a 25% premium over the one-month volume-weighted average price of US$1.37 (AED 5.02) and a 31% premium over the three-month volume-weighted average price of US$1.30 (AED 4.76).
On August 26, 2026, AD Ports Group’s Board recommended that shareholders accept the offer. HSBC Bank Middle East provided an independent fairness opinion supporting that recommendation.
Record quarterly earnings
AD Ports Group enters the settlement period after reporting its strongest quarterly financial performance on record during the second quarter of 2026. Quarterly revenue increased 47% year on year to US$1.93 billion (AED 7.08 billion). EBITDA climbed 49% to US$474 million (AED 1.74 billion), producing an EBITDA margin of 24.5%.
Meanwhile, total net profit rose 88% year on year to US$228 million (AED 836 million). Maritime and Shipping, Economic Cities and Free Zones, and Logistics generated much of the quarterly growth.
Ports and logistics platform
L’IMAD groups AD Ports Group, Etihad Rail, and Aramex within its Ports and Logistics platform. Assets across that portfolio connect port infrastructure, industrial zones, rail capacity and logistics operations serving domestic and international trade flows.
Lastly, L’IMAD has worked with AD Ports Group on industrial free zone development within Khalifa Economic Zones, Abu Dhabi. Etihad Rail adds national rail connectivity across major industrial, logistics and population centres.
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