L’IMAD says AD Ports takeover offer successful, stake to exceed 98.5%

L’IMAD Holding Co., as The takeover offer was priced at AED 6.25 per share.

L’imad Holding Company (L’IMAD), the sovereign investment platform of the Abu Dhabi government, announced the successful completion of its voluntary takeover offer for shares in AD Ports Group, following the close of the offer period on Tuesday, Sept. 15, 2026.

In a statement, the company said its stake in AD Ports Group will rise to over 98.5% upon settlement of the offer, compared with its current holding of 75.4%.

It added that all offer conditions have been satisfied, except for customary notifications required to be submitted to the Securities and Commodities Authority (SCA) and the Abu Dhabi Securities Exchange (ADX). Settlement, payment to shareholders and registration of the shares in the name of Abu Dhabi Developmental Holding Company (ADQ) are expected to be completed no later than Oct. 9, 2026.

ADQ, a wholly owned subsidiary of L’imad, launched the offer on Aug. 18, 2026, with the acceptance period running until Sept. 15.

L’imad appointed Rothschild & Co Middle East Limited as financial adviser to the offer, and Emirates NBD and First Abu Dhabi Bank as joint lead receiving banks.

It also appointed Emirates NBD Capital Limited and First Abu Dhabi Bank as lead managers, EFG Hermes UAE Limited as co-lead manager, International Securities as co-manager, and A&O Shearman LLP as legal adviser to the transaction.

In August, ADQ launched an offer to acquire the shares in AD Ports Group it did not already own, representing approximately 24.58% of the group's share capital, or around 1.25 billion shares, at AED 6.25 per share.

AD Ports Group's board recommended that shareholders accept the offer, while the group announced last week that all key conditions relating to the offer had been satisfied.