AD Ports Group PJSC announced that it has received a letter from Abu Dhabi Developmental Holding Company PJSC (ADQ) confirming the fulfillment of all fundamental conditions related to its conditional cash offer to acquire up to 100% of the issued and paid-up share capital at 6.25 AED (1.7 USD) per share.
By the close of trading on September 15, 2026, ADQ received acceptance requests exceeding 23.08% of AD Ports Group's share capital. This increases ADQ's direct stake from 75.42% to over 98.5% upon the transaction's settlement. ADQ is a wholly-owned subsidiary of Al Almadh P.J.S.C.
What Does This Mean?
As ADQ nears full ownership, AD Ports Group transitions from a publicly held company with significant free float to an entity nearly wholly owned by a single investment entity tied to the Abu Dhabi government. Shareholders who have not yet accepted face a significant decline in trading liquidity, while accepting the offer before settlement provides them a chance to exit at a set price. Meanwhile, ADQ strengthens its grip on one of the largest port operators and logistics service providers in the UAE as it continues expanding its strategic infrastructure portfolio.
This transaction is part of a recurring pattern of Abu Dhabi government-linked investment entities enhancing their direct stakes in listed companies considered strategic assets, rather than maintaining distributed ownership structures with private sector shareholders.
Offer Conditions and Remaining Steps
According to the offer document dated August 18, 2026, all fundamental conditions of the transaction have been met, with only routine notifications to the Securities and Commodities Authority and Abu Dhabi Securities Exchange remaining. Consequently, the offer settlement, involving the payment of acquisition price and the transfer of acquired shares to ADQ, will be completed by October 9, 2026.
ADQ has requested AD Ports Group’s board to disclose the content of its letter and the offer results on the Abu Dhabi Securities Exchange website, which has been executed as per the current disclosure signed by Emile Pleeser, the group’s General Counsel.