AD Ports Group today announced that it has received a notification from L’IMAD Holding Company of its intention to submit a voluntary conditional cash offer, through its wholly owned subsidiary Abu Dhabi Developmental Holding Company PJSC (ADQ), to acquire up to 100% of the issued and paid-up share capital of Abu Dhabi Ports Company (AD Ports Group) not already held by ADQ.
Abu Dhabi sovereign investor L'IMAD Holding plans to offer AED6.25 per share to acquire the remaining stake in AD Ports Group through its key subsidiary Abu Dhabi Developmental Holding (ADQ), in a deal that could take its ownership of the company to 100%. L’IMAD, through ADQ currently owns 75.42% of AD Ports Group.
TA’ZIZ, a joint venture between ADNOC and ADQ, has announced the launch of a joint feasibility study with Covestro and XRG to assess the development of a world-scale methylene diphenyl diisocyanate (MDI) plant at the TA’ZIZ Industrial Chemicals Zone in Ruwais Industrial City, Abu Dhabi.
The UAE-based TA’ZIZ, a joint venture between ADNOC and ADQ, has signed long-term agreements spanning offtake, feedstock and sales across its chemicals portfolio valued at $28.5 billion (AED104.6 billion).
ADQ, an Abu Dhabi-based active sovereign investor focused on critical infrastructure and global supply chains, has announced the successful closing of its debut five-year syndicated term financing deal in the Greater China region worth $5 billion.
Synergy Consulting has announced that it had a major advisory role in supporting Abu Dhabi National Energy Company (Taqa) on the successful execution of a 27-year utilities purchase agreement signed with Adnoc for the Ta’ziz Industrial Chemicals Zone in Ruwais Industrial City, Abu Dhabi.
Lunate, a partner-led and independent global investment firm with $115 billion in assets under management, has appointed Mohamed Hassan Alsuwaidi, Founding Managing Director & Group Chief Executive Officer of ADQ, as Executive Chairman and Managing Partner, following his successful tenure at ADQ.
Abu Dhabi's Supreme Council for Financial and Economic Affairs (SCFEA) has issued a resolution to consolidate the assets and investments of L’IMAD Holding Company, and the Abu Dhabi Developmental Holding Group (ADQ) under the umbrella of L’IMAD.
