AD Ports Group, a key company in trade, logistics, and industry, has been told by L’IMAD Holding Company PJSC (L’IMAD), a government investor from Abu Dhabi, that it wants to make a cash offer to buy all the shares of Abu Dhabi Ports Company PJSC (AD Ports Group) that it doesn’t already own, using its subsidiary Abu Dhabi Developmental Holding Company PJSC (ADQ).
L’IMAD, through ADQ, currently owns 75.42% of AD Ports Group. The sovereign investor, through ADQ, intends to offer AED 6.25 per share to the AD Ports Group. The offer represents a 23% premium to the last share price close of AED 5.10 per share as of August 14, 2026.
AD Ports Group and its investors will also get a 25% premium to the one-month Volume Weighted Average Price (VWAP) of AED 5.02 per share, along with a 95% premium over the logistics venture’s listing price on ADX on February 8, 2022, of AED 3.20 per share.
The news comes amid the integrated trade, industry, and logistics giant reporting its Q2 results, the strongest one on record, a development that further confirms the resilience of the Group’s diversified and integrated trade ecosystem amid the ongoing Iran war.
“In Q2 2026, AD Ports Group continued to fine-tune and ramp up alternative multimodal trade routes and operations across the United Arab Emirates under the UAE’s National Programme to Strengthen Supply Chain Resilience, minimising the impact of the Strait of Hormuz traffic disruptions on its customers and the wider UAE and GCC economic ecosystem,” the venture noted.
“The Group’s presence throughout the entire supply chain, its role as a major landlord in its domestic business, and its ability to adapt have been key in reducing the negative impacts of regional disruptions on its UAE operations, while also turning challenges into unique opportunities, especially in the shipping sector,” it added.
The Group’s continuity measures implemented since March 2026 include the rerouting of cargo operations and feeder services to Fujairah Terminals and Khor Fakkan Port, located outside the Strait of Hormuz on the Gulf of Oman, the deployment of new land and air bridges, and the establishment of additional warehousing and storage facilities.
Despite facing the geopolitical heat, AD Ports Group reinforced its regional feeder shipping services in Q2 2026 to maintain supply chain integrity by redeploying and scaling up its container and bulk cargo vessel fleet.
These services connect with ports in India, Pakistan, and Oman, as well as Red Sea ports and ports along the Upper Arabian Gulf. In total, a fleet of 27 of the Group’s container vessels and five bulk vessels served the alternative shipping trade corridors to ensure uninterrupted cargo movement and supply chain continuity.
“During this time, the Group also set up new overland trade routes from its Fujairah Terminals and third-party facilities at Khor Fakkan port, using bonded customs transit across the UAE to Khalifa Port, Jebel Ali Port, and Sharjah, adding 400 trucks in Q2 2026, and increasing rail service frequency with Etihad Rail,” the venture noted.
AD Ports Group also activated its alternative multimodal measures, including new air cargo solutions, especially for critical commodities such as food and pharmaceuticals. Six chartered aircraft have been put into duty to date.
The land bridge and air cargo solutions were supported by the Group’s expanded warehousing and storage capacity, currently exceeding 54,000 m². AD Ports Group wants to increase this dedicated capacity by the end of the year. To fulfil the goal, the venture is also procuring additional reefer (refrigerated) and dry containers.
During Q2 2026, AD Ports Group continued to push ahead with its diversification, market expansion, and scaling-up strategy as it grew its organisational capacity.
“The Group announced its largest-ever acquisition – the purchase of Corredor Logistica e Infraestrutura (CLI), Brazil’s leading independent agribulk port terminal operator – for an Enterprise Value (EV) of AED 3.1 billion (USD 835 million), marking its strategic entry into South America’s largest market. In 2025, CLI handled 17 million tonnes of agribulk cargo and delivered revenues of AED 654 million (USD 178 million), generating an EBITDA of AED 360 million (USD 98 million). The transaction is expected to close at the end of Q3 2026,” the venture commented.
The Group also made significant acquisitions in its Logistics Cluster by purchasing MBS Logistics, a Germany-based global integrated logistics services provider, for AED 300 million (70 million euro).
“MBS Logistics will enhance the Group’s operational scale, supporting larger volume management and expanding its global footprint in freight forwarding services via air, ocean, road and rail transport, while also bolstering its contract logistics, project cargo, customs and compliance, and time-critical multimodal solutions. In 2025, MBS Logistics reported revenues of AED 870 million (EUR 205 million), with solid industry margins. The deal is expected to close in Q4 2026,” AD Ports Group said.
The Group also acquired an additional 30% equity stake valued at AED 1.1 billion (USD 300 million) in one of its key strategic assets, Global Feeder Shipping (GFS), raising its total holding to 81%. The transaction was completed on June 23, 2026. Additionally, during the period, AD Ports Group updated the market regarding its Mandatory Tender Offer for a majority stake in Alexandria Container & Cargo Handling Company, which is now expected to close in Q4 2026.
AD Ports Group is also exploring the opportunity to fund these acquisitions from its undrawn credit facilities, including an accordion option, which amounts to AED 5.89 billion as of Q2 2026.
In Maritime & Shipping, the strong performance in Q2 2026 involved a mix of capacity increases and price adjustments, notably in container feeder shipping, Ro-Ro shipping, and tankers. Agency and commercial representation services were also a key driver as a result of strong business expansion in existing markets (Spain and Algeria) and entry into four new markets since the beginning of the year.
In the container feeder shipping business, the 11% YoY and 15% QoQ drop in Q2 2026 volumes to 740K TEUs was more than offset by the surge in rates. Average rates for Gulf/Indian Subcontinent services, which accounted for 30% of total quarterly container feeder shipping volumes, soared 96% YoY and 103% QoQ, while average rates for Red Sea services, which represented 24% of quarterly volumes, increased 37% YoY and 56% QoQ.
“The size of the bulk, multipurpose, and Ro-Ro vessel fleet reached 72 vessels as of Q2 2026, up from 36 in the prior-year period. Maritime & Shipping Cluster revenue, which represented 53% of Group revenue during Q2, soared 62% YoY to AED 3.82 billion, while cluster EBITDA increased 79% YoY to AED 1.03 billion,” the venture continued.
In Economic Cities & Free Zones (EC&FZ), robust growth momentum continued in Q2 2026 – across warehouse leases, staff accommodation, and gas provisioning – with 1.2 km² (net) of new industrial land leases added in KEZAD Abu Dhabi. During the quarter, KEZAD completed its third warehouse sale transaction for AED 650 million, under the Group’s strategy to actively manage its asset portfolio and monetise real estate and non-core assets when opportune.
Economic Cities & Free Zones Cluster revenue, representing 18% of total Group revenue in Q2, jumped 132% YoY to AED 1.29 billion (+15% YoY adjusted for the warehouse sale), while cluster EBITDA doubled YoY to AED 659 million. Excluding gains from the warehouse sale transaction, normalised EBITDA for the cluster was AED 365 million.
Ports Cluster performance in the quarter remained resilient despite regional challenges. Quarterly UAE container throughput declined 65% YoY to 573K TEUs, and UAE bulk and general cargo volumes fell 67% YoY to 3.1 million tonnes due to ongoing disruptions in the Strait of Hormuz.
However, the Group effectively mitigated domestic impacts through its landlord business model, expanding international operations, and alternative trade corridors established via Fujairah Terminals and Khor Fakkan Port. In the UAE, container capacity utilisation stood at 22%, while international capacity utilisation reached 61%.
Ports Cluster Q2 2026 revenue, which accounted for 8% of quarterly Group revenue, contracted 17% YoY to AED 609 million, while cluster EBITDA decreased 23% YoY to AED 234 million.
In logistics, improved Q2 2026 performance was largely driven by proactive measures taken in the UAE and the GCC to mitigate the regional situation and maintain the integrity of the regional supply chain. These efforts more than offset a 23% YoY decline in the UAE quarterly polymer volumes.
Logistics Cluster Q2 2026 revenue, which accounted for 20% of quarterly Group revenue, increased 30% YoY to AED 1.47 billion, while cluster EBITDA rose 154% YoY to AED 94 million.
“The Group’s Net Leverage improved to 3.7x as of Q2 2026, vs. 4.1x in Q2 2025 and 3.9x in Q1 2026. Total Net Debt stood at AED 22.73 billion as of June 30, 2026, as compared to AED 21.45 billion as of March 31, 2026,” the business concluded.