ADNOC Logistics and Services has completed its acquisition of an 80 per cent stake in Navig8 TopCo Holdings (Navig8) for $1.04 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 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.
ADNOC L&S said the acquisition enables it 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.
ADNOC L&S will acquire the remaining 20 per cent for deferred consideration of between $335 million and $450 million, dependent on EBITDA delivery ad-interim, payable at that time.
The company said the acquisition is expected to boost ADNOC L&S’ earnings per share by at least 20 per cent in 2025 compared to 2024.