Gulf Oil and Gas accountACCOUNT

A Consortium Agrees $500m National Petroleum Services Buy

Source: Reuters 4/22/2014, Location: Middle East

A consortium of Gulf-based investors including Fajr Capital and Arab Petroleum Investment Corp (Apicorp) have agreed on a deal to acquire Dubai-based oilfield services firm National Petroleum Services, Fajr said.

The transaction, which is expected to close in the second quarter of 2014, is valued "in excess of $500 million", it said in a statement.

While Fajr didn't specify how much of NPS the group was buying, the statement said some of the current shareholders would remain as minority shareholders, including Abdul Aziz Al Dolaimi, who would continue as chairman.

Chief executive Adnan Ghabris will also remain in his role, with the management team unchanged, the statement added.

Mergers and Acquisitions News in United Arab Emirates >>

Mexico >>  8/19/2019 - The Bureau of Ocean Energy Management has approved Equinor and Shell’s transaction announced in May 2019, whereby Equinor exercised its preferential r...
Nigeria >>  8/19/2019 - Savannah Petroleum PLC, the British independent oil & gas company focused around activities in Niger and Nigeria, is pleased to provide an update in r...

Australia >>  8/18/2019 - Oilex has entered into an agreement with Holloman Energy Corp ('HEC') to acquire its 48.5003% interest in the PEL 112 and 444 license in the world cla...
United States >>  8/14/2019 - TGS-NOPEC Geophysical Company ASA (TGS) has completed its acquisition of Spectrum ASA (Spectrum), creating a leading global multi-client geophysical d...

China >>  8/12/2019 - China based offshore and subsea solutions company, COOEC Offshore, has formed an alliance with international oilfield services company, Expro. The for...
Saudi Arabia >>  8/12/2019 - Saudi Aramco and Reliance Industries Limited (RIL) have agreed to a non-binding Letter of Intent (“LOI”) regarding a proposed investment in the Oil to...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United Arab Emirates Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.