According to Amac News: Navig8 is an international operator that operates in the field of marine transportation and business management and has a modern fleet of 32 tankers and is present in 15 cities on five continents.
Navig8 Group has also invested in technical management companies and a marine fuel provider operating in more than a thousand ports worldwide.
The acquisition marks a key milestone in ADNOC L&S' transformational growth strategy and strengthens the company's position as a leading marine energy logistics company.
The CEO of ADNOC L&S said in this regard that this acquisition will allow ADNOC L&S to expand its services by adding commercial and refueling services and to internationalize its business scope and technical management.
The company is set to acquire the remaining 20 percent in mid-2027 for between $335 million and $450 million.
The value-adding acquisition is expected to add at least 20% to ADNOC L&S's earnings per share in 2025 compared to 2024.
ADNOC L&S expects to benefit from synergies of at least $20 million (equivalent to AED 73.4 million) per year from 2026.