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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.
4 months ago
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