The Abu Dhabi capital market recently reported a heavyweight transaction, with local core sovereign wealth fund L'IMAD Holdings officially announcing its intention to launch a comprehensive voluntary cash tender offer for AD Ports Port Group, promoting the complete privatization of this port operator that will be listed in 2022, marking a landmark event in the integration process of the Middle East port industry.

High premium offer locks in privatization path

As the leading sovereign wealth fund in Abu Dhabi, L'IMAD Holdings manages approximately $300 billion and currently holds 75.42% of the outstanding shares in AD Ports. This tender offer will acquire the remaining 25% of the shares at a price of approximately $1.7 per share, which is a 95% premium over the 2022 IPO price of AD Ports and corresponds to an overall valuation of approximately $8.6 billion for the company. After the transaction is completed, AD Ports will be delisted from the public market and fully operated under the sovereign fund system, completely free from the regulatory and information disclosure constraints of publicly listed companies.

High growth fundamentals support industrial expansion

AD Ports was formerly known as Abu Dhabi Ports Company, established in 2006. Initially, it was only responsible for the operation of Khalifa Port and its supporting industrial zone. In recent years, it has gradually expanded to include diversified business sectors such as ports, free trade zones, and shipping. By 2025, it will achieve a container throughput of 7.7 million TEUs and 59.5 million tons of bulk cargo. Recently, it has also invested about 5.7 billion yuan to acquire a Brazilian bulk cargo terminal operator, and its overseas layout will continue to be implemented.

According to the financial report for the second quarter of 2026, the company's single quarter revenue was 1.928 billion US dollars, a year-on-year increase of 47%. Its earnings before interest, tax, depreciation, and amortization were 474 million US dollars, a year-on-year increase of 49%, and its net profit was 228 million US dollars, a year-on-year increase of 88%. The high growth fundamentals provide solid support for subsequent industrial integration. Keywords: Middle East news, port industry

The capital path adjustment of AD Ports from public listing to complete privatization not only reflects the long-term holding preference of Middle Eastern sovereign funds for core infrastructure assets, but also means that this regional port leader will have more flexible decision-making space, further accelerating the global terminal asset acquisition and shipping network layout.Editor/Cheng Liting