ADNOC Logistics & Services secures $2 billion to buy 80% of Navig8, boosting its global tanker fleet.

ADNOC Logistics & Services, a UAE energy firm, secured a $2 billion financing facility to expand, with $1 billion aimed at acquiring maritime logistics company Navig8. This includes an 80% stake purchase for $1.04 billion, with plans to acquire the remaining 20% by mid-2027. The deal enhances ADNOC L&S's global presence and fleet of 32 tankers. The financing was arranged by Societe Generale and other banks, supporting ADNOC L&S's growth and investment strategy post-IPO.

2 months ago
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