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Dubai’s NPS to be acquired by Fajr Capital-led GCC consortium

: Thursday, April 24 - 2014 @ 10:15

Fajr Capital has said a group of Gulf-based investors, including Arab Petroleum Investment Corp (APICORP), have agreed on a deal to acquire Dubai-based oilfield services firm National Petroleum Services (NPS), Reuters has reported. The transaction, which is expected to close in the second quarter of 2014, is valued “in excess of $500m,” Fajr said. While Fajr didn’t specify how much of NPS the group was buying, nor who the selling shareholders were, the company said some of the current shareholders would retain a minority stake, including Abdul-Aziz al-Dolaimi, who would continue as chairman.

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Thursday, April 24- 2014 @ 10:15 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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