Waha Capital
OILC
OILC
Waha Capital, the Abu Dhabi energy services company, revealed that it has acquired a 20.56% stake in Dubai-based oilfield services firm National Petroleum Services (NPS) for $76 million, according to Reuters.
This move, Waha said, is part of the Company’s increased focus on the region’s energy sector, reported The National, adding that Waha Capital was part of a consortium of investors, which included Fajr Capital and the Arab Petroleum Investment Corp. The overall deal was valued at AED 1.36 billion.
It is worth noting that the Abu Dhabi energy services firm has 20 subsidiaries and around 1,300 employees across the Middle East and South East Asia.
Commenting on the acquisition, Salem Al Noaimi, Waha chief executive, commented saying “The energy sector across the MENA region continues to grow rapidly, presenting significant investment opportunities for regional private sector companies.”
Waha had recorded strong first quarter results, as profit registered a 78% surge compared to results a year earlier. Waha revenues were supported by the sale of its lucrative stake in AerLift Leasing.
This move, Waha said, is part of the Company’s increased focus on the region’s energy sector, reported The National, adding that Waha Capital was part of a consortium of investors, which included Fajr Capital and the Arab Petroleum Investment Corp. The overall deal was valued at AED 1.36 billion.
It is worth noting that the Abu Dhabi energy services firm has 20 subsidiaries and around 1,300 employees across the Middle East and South East Asia.
Commenting on the acquisition, Salem Al Noaimi, Waha chief executive, commented saying “The energy sector across the MENA region continues to grow rapidly, presenting significant investment opportunities for regional private sector companies.”
Waha had recorded strong first quarter results, as profit registered a 78% surge compared to results a year earlier. Waha revenues were supported by the sale of its lucrative stake in AerLift Leasing.
Source:
Mubasher
