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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.

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