Abu Dhabi wealth fund L'IMAD increases stake in utility TAQA

Warner Bros Discovery

10/06/2026 17:13

    DUBAI, June 10 (Reuters) - Abu Dhabi's newest sovereign wealth fund L'IMAD Holding, headed by the emirate's crown prince, has increased its stake in state-owned power and water utility TAQA TAQA.AD by a further 8.09%, TAQA said on Wednesday.
Abu Dhabi Power Corporation, a subsidiary of the wealth fund, completed the acquisition of an additional 9.1 billion TAQA shares, bringing its total shareholding in the company to 98.12%, TAQA said in a bourse filing.
Two Point Zero Group 2POINTZERO.AD said in a separate filing that it had sold its entire stake in TAQA to AD Power as part of its "ongoing strategic initiatives and portfolio optimization efforts." It did not disclose financial details. 
The stake acquired by AD Power on Wednesday would be worth around 21.56 billion dirhams ($5.87 billion) according to Reuters calculations based on TAQA's closing share price on the same day. 
Abu Dhabi holds the vast majority of the UAE's oil reserves and is home to sovereign funds estimated to collectively manage more than $1.8 trillion in assets. 
L'IMAD came to global prominence last year as one of the Gulf backers of Paramount Skydance Corp's PSKY.O bid for Warner Bros Discovery WBD.O. 
It has since become an investment heavyweight with assets worth an estimated $300 billion after taking control of peer ADQ. It is chaired by Abu Dhabi's Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.
     


 (Reporting by Federico Maccioni, additional reporting by Hadeel Al Sayegh; Editing by Joe Bavier)
 ((federico.maccioni@thomsonreuters.com, +971 527370852))