{"id":82933,"date":"2024-12-09T00:00:00","date_gmt":"2024-12-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/09\/nmdc-lts-to-snap-up-70-of-emdad\/"},"modified":"2024-12-09T00:00:00","modified_gmt":"2024-12-09T00:00:00","slug":"nmdc-lts-to-snap-up-70-of-emdad","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/09\/nmdc-lts-to-snap-up-70-of-emdad\/","title":{"rendered":"NMDC LTS to snap up 70% of Emdad"},"content":{"rendered":"

NMDC LTS moves to acquire 70% stake in Emdad: <\/strong>NMDC\u2019s new logistics arm, NMDC<\/a>LTS<\/a>, is set to acquire a 70% stake in Abu Dhabi-based oil and gas services firm Emdad for an undisclosed sum, according to an ADX disclosure (pdf)<\/a> released last week. The agreement is pending regulatory approvals and endorsements from stakeholders within and outside the UAE. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

About Emdad: <\/strong>The Abu Dhabi-based company provides oilfield services, including operations, maintenance, and well construction, offering offshore and logistical support, vessel management, cross chartering, and offshore transportation.<\/p>\n

It\u2019s not just oil and gas:<\/strong> NMDC will tap into Emdad\u2019s shipping and marine services subsidiary Marcap<\/a>, which offers several marine services, including offshore and logical support, cross chartering and vessel management, and offshore transportation. <\/p>\n

Emdad\u2019s clients: <\/strong>Emdad has long-standing relationships with major players in the industry, including Adnoc, Borouge, and Emirates Global Aluminum (EGA).<\/p>\n

There\u2019s been hints: <\/strong>NMDC has been looking to acquire a 70% stake in Emdad since July<\/a>. The company submitted a binding offer of an undisclosed value after completing due diligence.<\/p>\n

ICYMI- <\/strong>NMDC Group launched NMDC LTS this week with a focus on marine logistics and technical operations as part of the company\u2019s strategy to diversify its portfolio.<\/p>\n

NMDC has been on the move: <\/strong>The company has been eyeing developing new business units<\/a>, including NMDC Construction and NMDC LNS. NMDC Group will develop a USD 300 mn chemicals port<\/a> as part of a Ta\u2019ziz awarded contract. NMDC Energy inked a 50-year lease agreement in June to set up a new manufacturing facility in the zone back in September<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

NMDC has submitted a binding offer of an undisclosed value back in July<\/p>\n","protected":false},"author":1,"featured_media":82934,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[941],"tags":[79,137,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-energy","tag-ma-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"cc28d0e0-01b0-4b5a-b72c-6e8ad855e4c4","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/2177.jpg","photo_position":"above","homepage_title":"","full_issue_title":"NMDC LTS to snap up 70% of Emdad","related_issue":[82918],"teaser":"NMDC has submitted a binding offer of an undisclosed value back in July","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.77a79724-a30d-4fe3-9325-cc390dac1044.mp3"},"yoast_head":"\nNMDC LTS to snap up 70% of Emdad - 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