AD Ports Group's board has recommended that its shareholders approve a cash offer from L'IMAD Holding, an Abu Dhabi sovereign investor, according to World Cargo News.

The offer pertains to the acquisition of the 24.58% stake in the ports and logistics group that L'IMAD Holding does not already possess.

This move would result in the full privatisation of AD Ports Group, consolidating ownership under L'IMAD Holding.

The recommendation from the board signals a significant step towards the proposed change in the group's ownership structure.

Shareholders will now consider the board's advice regarding the acquisition bid for the remaining shares in the company.