Dubai Eye 103.8

On Air Now
The Best of Dubai Eye 103.8
Noon - 7:00pm

Listen To Dubai Eye

ADNOC L&S completes acquisition of 80% stake in Navig8

Wednesday, 8 January 2025 12:31

By ARN News Staff

WAM

ADNOC Logistics and Services plc on Wednesday announced the completion of its acquisition of an 80 per cent stake in Navig8 for $1.04 billion (AED3.8 billion), with a contractual commitment to acquire the remaining 20 per cent in mid-2027.

Navig8 is an international shipping pool operator and commercial management company with a modern-owned fleet of 32 tankers and a presence in 15 cities across five continents.

The Navig8 Group also holds investments in technical management companies, a marine fuels provider operating in over a thousand ports worldwide, and other enterprises serving the marine sector.

The acquisition enables ADNOC L&S to expand its service portfolio by adding commercial pooling and bunkering services, internationalising commercial reach and technical management, and extending ESG-focused industrial and digital solutions.

More from Business

Three new pharmaceutical factories established in Sharjah

Three new pharmaceutical factories with a combined investment value of AED 308.7 million ($84 million) have been established in Sharjah, joining existing pharmaceutical plants in the emirate.
High-Speed train to contribute AED145 bln to UAE GDP

Chief Projects Officer at Etihad Rail, Mohammed Al Shehhi, highlighted the pivotal role of the high-speed train in bolstering the UAE's economic growth.
AD Ports Group signs Egypt MoU for Alexandria Port operation

AD Ports Group and the Egyptian Ministry of Industry and Transport have signed a Memorandum of Understanding (MoU) to explore logistics infrastructure collaborations in Alexandria.
Netflix shares jump as subscribers surge

Netflix shares soared in US premarket trading on Wednesday after the company reported a blockbuster holiday quarter as a robust content line-up and its entry into live sports streaming brought in a record number of new subscribers.
Economy Minister highlights UAE's business ecosystem at Davos 2025

The UAE's Minister of Economy, Abdulla bin Touq Al Marri, has spotlighted the country's competitive advantages and vibrant business ecosystem at the World Economic Forum in Davos.

Coming Up on Dubai Eye

Extra Time
7:00pm - 10:00pm

Chris brings you the latest from the sporting world plus interviews with upcoming and legendary sporting stars.
Nights on Dubai Eye 103.8
10:00pm - 11:00pm

Dubai Eye complements the conversation with the music you love from the eighties, nineties and newer.

BUSINESS BREAKFAST LATEST

UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the USA
UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
New iPhone Launch - Too Soon For Apple?
Apple Inc. shares fell Monday after a closely followed analyst warned that demand for the firm’s new iPhone 16 Pro model has been lower than expected. Is this a sign that the AI software just isn’t ready?
Working From Home or Hardly Working?
Does working from home kill productivity or can it benefit staff by giving them more flexibility and a better work/life balance?

On Dubai Eye

Is There Sufficient House Supply In UAE
Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?
Noon's First Female Delivery Driver
Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!