"ADNOC Logistics and Services" Completed the acquisition of 80% of "Navig8"

ABU DHABI, 8 JANUARY / WAM / ADNOC Logistics and Services PLC announced today that it has completed the acquisition of 80% of the ownership of Navig 8 Topco Holding Company “Navig8”, for 3.8 billion dirhams ($1.04 billion), with a contractual commitment to purchase a percentage of The remaining 20% ​​in mid-2027.

Navig8 is a global company specialized in operating cargo ship clusters and commercial management. It owns a modern tanker fleet consisting of 32 tankers and has an important presence in 15 cities across five continents.

The “Navig8” group also owns investments in companies to manage technical operations, and provides fuel services in more than a thousand ports around the world and many institutions operating in the maritime sector.

This acquisition constitutes an important step in the qualitative growth strategy of ADNOC Logistics and Services, and strengthens its position as a leading global company in the field of maritime logistics services for the energy sector. It also represents a new step in implementing the company’s strategy for global expansion, creating and adding new value to its customers and shareholders, and opening new opportunities for growth. Commercial and expansion into new markets. This acquisition is based on the successful integration with Zakher Marine International in 2022.

Captain Abdul Karim Al Musabi, CEO of ADNOC Logistics and Services, said that completing this acquisition is an important step in accelerating the implementation of the company’s transformational growth strategy, noting that by including the “Navig8” fleet and the company’s global presence, this acquisition allows for enhancing the company’s offerings. The company’s services and achieve great value for its customers and shareholders. This strategic step also provides new opportunities to enhance the company’s commercial growth, expand into new markets, and consolidate the company’s position as a global leader in the field of logistics and maritime services for the energy sector.

This acquisition will allow ADNOC Logistics and Services to enhance its service offerings to include commercial ship assemblies and ship bunkering, enhance commercial deployment and technical management globally, and provide sectoral and digital solutions geared towards environmental, social and corporate governance.

For his part, Nicholas Busch, CEO of Navig8, said that joining ADNOC Logistics and Services and the ADNOC Group highlights the exceptional efforts made by the Navig8 team over the past two decades, which paved the way for the next stage.

ADNOC Logistics and Services acquired 80% of the ownership of Navig8 for 3.8 billion dirhams ($1.04 billion), with the transfer of economic ownership effective January 1, 2024.

The company also contracted to purchase the remaining 20% ​​in mid-2027 for a deferred amount ranging from 1.2 to 1.7 billion dirhams ($335 to 450 million), based on achieving interim earnings before interest, taxes, depreciation and amortization, to be paid at that time.

The deal is expected to achieve an additional profit for ADNOC Logistics and Services of at least 20% per share in 2025 compared to 2024.

ADNOC Logistics and Services will achieve a significant value of no less than 73.4 million dirhams ($20 million) annually through synergies and integration of the company’s components starting in 2026.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and