Adnoc L&S plans to acquire 80% of Navig8 TopCo for $1bn in 2024, as part of a $5bn investment program.
ADNOC Logistics and Services (Adnoc L&S) plans to acquire 80% of global shipping pool operator Navig8 TopCo Holdings for $1bn to bolster its fleet and expand into new markets. The acquisition, part of a $5bn investment programme, will see Adnoc L&S take ownership of 80% of Navig8 in January 2024, with the remaining 20% to be acquired in 2027. Navig8 operates a fleet of 32 tankers and has a presence in 15 cities across five continents.
June 03, 2024
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