ADNOC Drilling Co., a subsidiary of Abu Dhabi National Oil Company (ADNOC), and Alpha Dhabi Holding have completed an acquisition through their joint venture, Enersol RSC LTD. The transaction saw Enersol acquire an additional 42.2% stake in Gordon Technologies LLC for approximately $270 million, making Enersol the majority shareholder with a total of 67.2% ownership. Previously, Alpha Dhabi had acquired a 25% stake in Gordon Technologies for $164 million in November 2022, which it contributed to Enersol earlier this year when the JV was formed. The acquisition solidifies the JV’s position in the oil and gas engineering sector.
Oil and Gas, Private Equity and Investment,United Arab Emirates
https://www.zawya.com/en/markets/equities/adnoc-drilling-alpha-dhabi-jv-acquires-additional-stake-in-gordon-technologies-pgna6zxi