Abu Dhabi Wealth Fund L’imad’s Ports Deal Signals Growing Role
The offer values AD Ports at over 31 billion dirhams and would give the fund full control as it seeks to support investment and acquisitions.
8 Articles
8 Articles
Abu Dhabi wealth fund L'IMAD plans to acquire full ownership of AD Ports
Abu Dhabi wealth fund L’imad Holding is offering to buy out minority shareholders in the city’s port operator valuing the firm at 31.8 billion dirhams ($8.66 billion), potentially bolstering the emirate’s efforts to build out infrastructure that could help it bypass the Strait of Hormuz.
L'Imad, the sovereign fund of Abu Dhabi (United Arab Emirates), has put on the table an offer for the acquisition of 100% of the operator ports of the city Abu Dhabi Ports Company (AD Ports Group), of which already has 75.42%, for a price of 6,25 dirhams (AED) per share, with which it values the whole of the company at 31.8 billion AED (about 7,400 million euros).
Abu Dhabi Ports Group, listed on the Abu Dhabi Securities Exchange, announced that it has received notification from Al Emad Holding, a sovereign investment company owned by the Abu Dhabi government, regarding its intention to submit a conditional voluntary cash offer through its wholly-owned subsidiary, Abu Dhabi Development Holding Company (ADQ), to acquire up to 100% of the Group's issued and paid-up share capital. The Group clarified in a st…
L'imad unit seeks to increase stake in AD Ports to 100%
Abu Dhabi Developmental Holding (ADQ) is seeking to increase its shareholding in Abu Dhabi Ports Company to 100 percent through a voluntary conditional cash offer. ADQ, a unit of L’imad, an Abu Dhabi sovereign investment holding company, holds 75.42 percent of the Abu Dhabi-listed ports operator. AD Ports listed its shares on the Abu Dhabi Securities Exchange (ADX) on February 7, 2022, at AED3.2 ($0.87) per share. The shares closed 2.5 percent l…
Coverage Details
Bias Distribution
- 75% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
