ADNOC L&S buys Navig8 in a deal worth over $1bn

ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of the Abu Dhabi National Oil Company, has announced an agreement to acquire 80% of UK-based tanker owner and pool operator Navig8 for AED3.8bn ($1.03bn). Under the terms of the agreement, economic ownership transfer is effective from January 1, 2024, and ADNOC L&S …

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