Abu Dhabi signs off on another mega merger in energy services sector

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Abu Dhabi shareholders have signed off on another mega merger - this one involves the National Petroleum Construction Company and National Marine Dredging Company. The latter's shareholders have now voted in favour of the move. Now, the General Holding Corporation PJSC (or 'Senaat' as it's known) and other minority shareholders in NPCC would transfer their stakes to NMDC. NPCC is into engineering, procurement and construction services for the offshore and onshore oil and gas sector. Khalifa Sultan Al Suwaidi, Chairman of Senaat, said: “The transaction will create one of the largest and most diversified EPC players in the region, and the complementary nature of the businesses provides a strong platform to capture growth opportunities."

Source: Abu Dhabi signs off on another mega merger in energy services sector | Energy – Gulf News


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