Transaction adds modern fleet of 32 tankers to ADNOC L&S’ fleet
ADNOC Logistics and Services has announced the completion of its acquisition of an 80% stake in Navig8 TopCo Holdings Inc. (Navig8) for US$ 1.04bn (AED 3.8bn), with a contractual commitment to acquire the remaining 20% 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.
This acquisition is a key milestone in ADNOC L&S’ transformational growth strategy and further strengthens the Company’s position as a leading global energy maritime logistics company.
Continued expansion
Following its successful integration of Zakher Marine International (ZMI) in 2022, this latest move is another important step in the company’s strategy of continued global expansion, unlocking new value for its customers and shareholders, and opening up new opportunities for commercial growth and expansion into new markets.
“This strategic move unlocks new opportunities for commercial growth and expansion into new markets, reinforcing our position as a leading global energy maritime logistics company,” commented Captain Abdulkareem Al Masabi, CEO, ADNOC L&S.
“Together, we aim to deliver even greater benefits to our customers, supporting ADNOC L&S’s growth and expanding Navig8’s presence in new markets,” remarked Nicolas Busch, CEO, Navig8.
