AD Ports Group Privatization
L'imad Offers Dh6.25 Per Share to Take AD Ports Group Private, Acquiring Full Control
Key Points
The offer price is Dh6.25 per share with a 23% premium to the last closing price, 25% above the one-month VWAP (Dh5.02) and 31% above the three-month VWAP (Dh4.76), plus a 95% premium to the pre-IPO subscription price of Dh3.20.
L’imad has appointed Rothschild & Co Middle East as financial adviser for the transaction, underscoring the scale of the bid and professional oversight.
AD Ports Group reported a strong Q2, with net profit up 88% to Dh836 million, revenue up 47% to Dh7.08 billion, and adjusted EBITDA up 49% to Dh1.74 billion (EBITDA margin at 24.5%).
Boston Consulting Group has been brought in to advise on operational improvements for the newly consolidated L’imad platform, aiming to unlock synergies across the expanded energy, aviation, healthcare, and logistics portfolio.
The consolidation follows the January 2026 absorption of ADQ by L’imad, with ADQ valued around $263 billion before the merger and L’imad thereafter managing a combined asset base near $300 billion.
Abu Dhabi's sovereign investment platform L'imad Holding has launched a $9 billion bid to take AD Ports Group fully private, according to Reuters. The offer, made through its subsidiary ADQ, is priced at Dh6.25 per share — a 23% premium to the last closing price. L'imad already owns 75.42% of AD Ports and now wants the rest.
The move would pull AD Ports off the public market and consolidate it under full sovereign ownership. Trade Arabia reported the offer is voluntary and conditional, with regulatory approvals still required. Further terms and a timetable will be published by AD Ports Group in due course.
What L'imad Is Paying and Why the Price Stands Out
The Dh6.25 per share offer carries significant premiums across the board. It sits 25% above the one-month average trading price of Dh5.02. It is 31% above the three-month average of Dh4.76. Most striking, it is nearly double — a 95% premium — to the original IPO subscription price of Dh3.20, according to Trade Arabia.
L'imad has appointed Rothschild & Co Middle East as its financial adviser for the deal. That signals this is a serious, structured transaction — not a rushed move. Crypto Briefing put the total value of the public float being acquired at roughly $9 billion.
AD Ports Is Being Taken Private at a Moment of Peak Performance
The timing is notable. AD Ports just posted its strongest results in years. In Q2, net profit jumped 88% to Dh836 million. Revenue rose 47% to Dh7.08 billion. Adjusted EBITDA climbed 49% to Dh1.74 billion, with a margin of 24.5%. The company is firing on all cylinders.
That performance makes the buyout more expensive — but also more logical. L'imad is pulling in a high-value asset at full strength. Capturing those earnings inside a private sovereign structure means all future gains stay off the public market, according to Reuters.
How L'imad's $300 Billion Empire Came Together
L'imad was formed in January 2026 when it absorbed ADQ, Abu Dhabi's diversified state investment fund. Before the merger, ADQ alone was valued at around $263 billion. After combining, L'imad now manages a portfolio worth close to $300 billion, according to Crypto Briefing.
The platform is chaired by Abu Dhabi's crown prince and spans energy, aviation, healthcare, and logistics. Other major assets being consolidated under L'imad include TAQA, Etihad Airways, and Modon. Boston Consulting Group has been brought in to find synergies across this vast portfolio, Trade Arabia reported.
Abu Dhabi Reverses Course on Public Markets Strategy
AD Ports went public in 2022 as part of Abu Dhabi's push to deepen its capital markets. Now that strategy is being unwound. Taking AD Ports private is a deliberate reversal. Abu Dhabi is choosing direct sovereign control over market transparency and public shareholding.
Crypto Briefing noted the deal reflects a broader shift — Abu Dhabi is pulling key infrastructure assets back under state control. With AD Ports central to the emirate's trade and logistics network, full ownership gives L'imad tighter control over a strategic national asset.
Sentiment
Mostly PositivePublishers
22
Articles
17
Reach
39
