All conditions attached to ADQ’s Dh6.25-per-share voluntary cash offer for AD Ports Group have been satisfied, clearing the way for settlement of the transaction that will raise its ownership in the Abu Dhabi-listed ports and logistics group to 98.93 per cent, AD Ports Group said in a statement on the Abu Dhabi Securities Exchange on Tuesday
AD Ports Group said it received a letter from ADQ confirming that all conditions set out in the offer document dated August 18 had been met.
The offer seeks to acquire up to 100 per cent of AD Ports Group’s issued and paid-up shares not already owned by ADQ.
Following settlement, ADQ’s ownership will rise from 75.42 per cent before the offer to 98.93 per cent of AD Ports Group’s share capital.
Offer moves to settlement
The statutory offer period opened on August 18 and closed on September 15, 2026, with shareholders offered Dh6.25 in cash for each share tendered.
In the previously reported that payment to shareholders and registration of the acquired shares in ADQ’s name are due to take place no later than October 9, 2026.
The latest announcement confirms that all required conditions have been satisfied, allowing the transaction to move towards settlement.
23% premium to closing price
When the offer was first announced on August 17, ADQ held 75.42 per cent of AD Ports Group.
The Dh6.25-per-share offer represented a 23 per cent premium to AD Ports Group’s previous closing price of Dh5.10.
It also represented a 25 per cent premium to the one-month volume-weighted average price of Dh5.02 and a 31 per cent premium to the three-month VWAP of Dh4.76.
The offer price was also 95 per cent above the Dh3.20-per-share subscription price set before AD Ports Group’s listing on the Abu Dhabi Securities Exchange in February 2022.
L’IMAD said when announcing the offer that it provided AD Ports Group shareholders with an opportunity to realise “certain and immediate value.”
AD Ports profit jumps 88%
The takeover offer followed a strong set of financial results from AD Ports Group, which reported an 88 per cent increase in second-quarter net profit to Dh836 million, marking its strongest quarterly performance on record.
Revenue for the three months ended June 30 increased 47 per cent to Dh7.08 billion, while adjusted EBITDA rose 49 per cent to Dh1.74 billion.
The adjusted EBITDA margin improved to 24.5 per cent from 24.2 per cent a year earlier.
Growth was supported by stronger activity across the group’s maritime and shipping, economic cities and free zones, and logistics businesses.
Part of ports and logistics portfolio
AD Ports Group sits within L’IMAD’s Ports and Logistics platform, alongside Etihad Rail and Aramex.
Through these holdings, the portfolio includes major transport and logistics infrastructure, with L’IMAD involved in the development of a major industrial free zone at Khalifa Economic Zones Abu Dhabi (Kezad) with AD Ports Group and the UAE’s railway network through Etihad Rail.
With all conditions now satisfied, the transaction is moving to settlement, after which ADQ will own 98.93 per cent of AD Ports Group.
Source: Khaleej Times