Abu Dhabi’s Taqa delisting plans are moving forward after Abu Dhabi Power Corporation completed its takeover. The transaction gives ADPC full ownership of Taqa’s issued share capital. Consequently, Taqa will leave the Abu Dhabi Securities Exchange, subject to regulatory approval.
Taqa’s board approved the delisting process after the company completed its squeeze-out procedure. The board reached the decision during a meeting on August 25, 2026. The company then submitted the relevant disclosure to the Abu Dhabi Securities Exchange.
Abu Dhabi Depository confirmed the completion of the acquisition on August 13. ADPC had acquired every remaining outstanding share in the company. Therefore, ADPC now owns 100 percent of Taqa’s issued share capital.
The transaction followed a special resolution approved by shareholders in July. Shareholders passed the resolution during Taqa’s general assembly meeting on July 21. That approval gave the board authority to proceed with the delisting.
However, Taqa still needs to secure the required regulatory approvals. The delisting will take effect after authorities complete their review. Until then, the company remains subject to the applicable exchange requirements.
The development marks a significant change for one of Abu Dhabi’s major energy companies. Taqa operates across several markets in the Middle East, Europe, and Africa. Its activities cover utilities, power generation, water, transmission, and energy production.
Meanwhile, Taqa reported mixed financial results during the first half of 2026. Revenue reached Dh27.5 billion during the six-month period. That figure represented a 2.6 percent decline from Dh28.2 billion a year earlier.
Several factors contributed to the revenue decline. Lower pass-through revenue affected Taqa Distribution during the period. Furthermore, extension work at the Shuweihat 1 Power Plant affected overall revenue.
Lower oil and gas production also weighed on the results. Planned decommissioning of assets in the UK North Sea contributed to the production decline.
Despite lower revenue, Taqa improved its profitability during the period. Higher returns from Taqa Transmission supported the stronger financial performance. Additionally, the company’s Generation business contributed to the improvement.
Taqa’s earnings before interest, taxes, depreciation, and amortization increased by 7.7 percent. EBITDA reached Dh11 billion during the first half of 2026. The company reported Dh10.2 billion in EBITDA during the same period last year.
Net income attributable to shareholders also increased during the period. Profit reached Dh4.1 billion compared with Dh3.7 billion a year earlier. As a result, net income rose by 9.7 percent year on year.
At the same time, Taqa increased spending on major infrastructure projects. Capital expenditure reached Dh7.2 billion during the first half. That represented a 38 percent increase from the previous year.
The higher investment reflected accelerated spending across power and water networks. It also included increased investment in transmission infrastructure. Consequently, the company accepted lower short-term cash generation while expanding its assets.
Free cash flow reached Dh4.6 billion during the first six months. The figure compared with Dh7 billion during the same period last year. Increased investment largely contributed to the decline in free cash flow.
The takeover therefore comes as Taqa continues investing across its core infrastructure businesses. Full ownership will also change the company’s relationship with public-market investors. The delisting removes Taqa shares from trading on the Abu Dhabi exchange.
For shareholders, the completed acquisition concludes the squeeze-out process. ADPC now controls the company without any remaining publicly held shares. The final delisting depends on completing the necessary regulatory steps.
Overall, the Taqa delisting represents a major corporate restructuring for Abu Dhabi’s energy sector. The company will continue operating across its key energy and utility businesses. However, it will no longer operate as a publicly traded company on ADX.
