Enersol to Become Majority Shareholder in NTS Amega

Enersol, a joint venture between ADNOC Drilling and Alpha Dhabi Holding, both listed on the Abu Dhabi Securities Exchange (ADX), is set to acquire a 51% stake in UAE-based NTS Amega. This $58 million deal, exclusive of transaction fees, expenses, and completion adjustments, will make Enersol the majority shareholder in NTS Amega, a manufacturer of advanced precision equipment valued at $581 million.

The acquisition will see Enersol purchasing the stake from Alpha Dhabi, which became the majority stakeholder in NTS Amega after acquiring the same percentage in October 2023. This transfer, maintaining the same valuation, is pending regulatory approval.

NTS Amega reported revenues exceeding $120 million in 2023. The acquisition is part of Enersol’s strategy to establish itself as a technology-centric investment platform in the oilfield services sector. Enersol plans to use this platform to acquire and invest in various businesses, creating a scalable technology ecosystem. This initiative is expected to enhance market value by providing greater access to GCC markets and improving operational efficiencies.

ADNOC Drilling highlighted that this acquisition will also supply scalable technologies to Turnwell Industries, its new unit aimed at enabling unconventional drilling operations for the Abu Dhabi National Oil Company (ADNOC).

Source: Bindu Rai / Zawya