DUBAI: Abu Dhabi investment firm Waha Capital said yesterday it had bought a 20.56 percent stake in Dubai-based oilfield services firm National Petroleum Services for $76m, as part of an increased emphasis on the region’s energy sector.
In April, a consortium of Gulf-based investors including Fajr Capital and Arab Petroleum Investment Corp (APICORP) agreed on a deal to acquire NPS; Fajr said at the time that the deal was worth over $500m. Waha said in its bourse statement yesterday that it was part of the consortium and that the deal, with a total equity value of $370m, had now closed. It did not explain the difference between its valuation of the acquisition and the figure given earlier by Fajr. Reuters
