Abu Dhabi’s TAQA, ADNOC, and Mubadala become shareholders in Masdar

Abu Dhabi National Energy Company (TAQA) paid $1.02 billion in cash for its stake in Abu Dhabi Future Energy Company (Masdar), following an agreement to become a shareholder alongside Abu Dhabi National Oil Company (ADNOC) and Mubadala Investment Company in the clean energy company. TAQA said in a statement on Thursday that the transaction, which […]

AD Ports to buy majority stake in Egyptian maritime companies

Abu Dhabi-based AD Ports Group has announced that it has reached an agreement to acquire a 70% equity stake in International Associated Cargo Carrier BV, which wholly owns two Egypt-based maritime companies, Transmar International Shipping Company and Transcargo International (TCI). The total purchase consideration (Enterprise Value) of this transaction amounts to AED514 million ($140 million). […]

Dar Al Takaful, Watania complete another milestone in merger process

  Dar Al Takaful (DAT) and Watania have completed another condition precedent in the merger process aiming to create one of the leading Takaful providers in the UAE with the end of the 45-day policyholders’ notice period with no objections received. The transaction is at the final stages of obtaining regulatory approvals from the Central […]

Abu Dhabi’s ADNOC Drilling signs deal to acquire two offshore drilling units

ADNOC Drilling, a subsidiary of Abu Dhabi National Oil Company (ADNOC), is acquiring two more premium offshore jack-up drilling units, to boost its oil production capacity and meet growing demand, the company said on Monday. The company has just signed a sale and purchase agreement (SPA) for the drilling unit expansion, which is part of […]