Abu Dhabi Wealth Fund L’imad’s Ports Deal Signals Growing Role

(Bloomberg) — 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 plans to make a cash offer for the shares in Abu Dhabi Ports Co. it doesn’t already own at 6.25 dirhams apiece, a 23% premium to the stock’s last closing price. The shares rose by the daily limit of 15% to 5.86 dirhams on Monday after the offer was announced.The wealth fund —