L’IMAD Holding Company has increased its ownership stake in AD Ports Group.

Billed as a significant development, the acquisition follows the completion of its cash buyout deal with one of its minority shareholders, Al Seer Marine Supplies and Equipment (ASM), a global maritime organisation headquartered in Abu Dhabi.

ASM confirmed that its board of directors had officially accepted the offer from L’IMAD through Abu Dhabi Developmental Holding Company (ADQ). The offer was made at a price of US $1.7 per share, which valued the transaction at $632mn.

“The company confirms that the transaction has been successfully completed. The relevant shares have been transferred to ADQ,” said ASM in a disclosure to the Abu Dhabi Securities Exchange (ADX).

With ASM’s departure, the wealth fund has gained more control over the prominent infrastructure and logistics firm in Abu Dhabi.

ASM’s shares hold a 7.3% stake in AD Ports Group. As of August 2026, L’imad, through ADQ, had a 75.42% ownership stake in AD Ports Group. The sovereign wealth fund aims to acquire up to 100% of the company’s issued and paid-up share capital.