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FINANCIAL NEWS
Gulf investors plan purchasing National Petroleum Services
23 Apr 2014
(MENAFN) A number of major Gulf-based investors including Fajr Capital and Arab Petroleum Investment Corp. (APICORP) plan to buy Dubai-based oilfield services firm National Petroleum Services, according to Arab News.
The deal worth over USD500 million, and is expected to be signed during the second quarter of this year.
The deal will be signed by Fajr and also containing APICORP and Saudi-Arabia based investment holding company Zamil Group, Reuters reported.
According to the report, some of the current shareholders would retain a minority stake, including Abdul Aziz Al-Dolaimi, who would continue as chairman.
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