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30-06-14

Abu Dhabi's Waha buys 20.56 percent in Dubai's NPS

(MENAFN) Abu Dhabi investment firm Waha Capital has purchased 20.56 percent stake in Dubai-based oilfield services firm National Petroleum Services (NPS) for USD76 million last week, according to Arab News. A number of Gulf-based investors including Fajr Capital and Arab Petroleum Investment Corp (APICORP) agreed on a deal to acquire NPS in April when the deal was worth USD500 million. Waha was part of the consortium and that the deal, with a total equity value of USD370 million, had now closed. It did not explain the difference between its valuation of the acquisition and the figure given earlier by Fajr.