AD Ports unveils additional details on acquisition offer

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AD Ports Group provided additional details regarding the voluntary conditional cash offer submitted by Abu Dhabi Developmental Holding Co. (ADQ), a wholly owned subsidiary of L’IMAD Holding Co., to acquire up to 100% of the issued and paid-up share capital of the group.

In a statement, the company said the offer document received today sets the acceptance period from Aug. 18, until 3:00 p.m. on Sept. 15, 2026, unless extended for an additional 14 days in accordance with acquisition rules.

The company added that the results of the offer are expected to be announced on September 16, 2026, unless the acceptance period is extended. The fulfillment of the offer conditions is anticipated within three months from the closing date.

It further indicated that payment to AD Group shareholders and the registration of shares in the name of ADQ will take place within three business days from the satisfaction of the offer conditions.

The timeline is subject to adjustment as may be required or agreed by the relevant authorities.

Expected timeline for key events

*The timeline is subject to adjustment as required or approved by the authority.

According to the offer document, the offer will be revoked if all stipulated conditions are not satisfied by the end of Q2 2027, or by any later date that may be determined by the offeror, provided approval is obtained from the authority. Should this right be exercised, the offeror will issue an announcement specifying the new date.

The document stated that the offer price of AED 6.25 per share represents the only amount payable by the offeror for the accepted shares. ADQ, L’IMAD, and any member of the L’IMAD will not bear any taxes, costs, or expenses that AD Ports shareholders may incur in connection with the offer.

It also noted that making the offer in certain jurisdictions outside the UAE could be prohibited or subject to applicable laws and regulations in those jurisdictions, urging AD Ports shareholders who are nationals or residents of such jurisdictions to review and comply with the relevant legal requirements.

L’IMAD currently owns, through ADQ, about 75.42% of AD Ports capital, equivalent to approximately 3.84 billion shares. The offer covers the remaining 1.25 billion shares, representing about 24.58% of the issued share capital.

AD Ports also announced today that its board will meet on Aug. 21, to review the offer. Additional announcements will be issued regarding the offer, including the publication of a circular addressed to shareholders in accordance with the mergers and acquisitions rules for public joint-stock companies.