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Saudi Innovative Energy Acquires ADES International


Friday, 23 April, 2021 - 09:45
Logo of Public Investment Fund (PIF)
Riyadh - Asharq Al-Awsat
ADES International Holding, a leading oil and gas drilling and production services provider in the MENA, accepted the acquisition offer presented by Innovative Energy Holding.
Innovative Energy is a newly established company that is jointly owned by the Public Investment Fund (PIF), which will hold a 32.5 percent stake in the company.
Zamil Group Investment, an existing investor in the company, will hold 10 percent of Innovative Energy, and ADES Investments Holding with majority ownership of 57.5 percent in Innovative Energy, in each case following completion of the acquisition of all ADES Shares. ....

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Investegate |ADES Intnl Holding Announcements | ADES Intnl Holding: Offer by Innovative Energy Holding


 
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THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE, OR FORM PART OF, AN OFFER OR AN INVITATION TO PURCHASE, SUBSCRIBE FOR OR SELL ANY SECURITIES OR A SOLICITATION OF ANY OFFER TO PURCHASE, SUBSCRIBE FOR OR SELL ANY SECURITIES. THE OFFER REFERRED TO IN THIS ANNOUNCEMENT WILL BE MADE SOLELY BY WAY OF THE OFFER DOCUMENT AND, WHERE APPROPRIATE, THE RELATED FORM OF ACCEPTANCE WHICH TOGETHER WILL CONTAIN THE FULL TERMS AND CONDITIONS OF THE OFFER, INCLUDING DETAILS OF HOW THE OFFER MAY BE ACCEPTED. ....

United Arab Emirates , United States , District Of Columbia , United Kingdom , Saudi Arabia , Ar Riya , Northern Ireland , City Of , Ash Sharqiyah , Kingdom Of Saudi Arabia , Hussein Badawy , Ayman Abbas , Andrew Coates , Nabil Kassem , Nour Fahmy , Yasser Hasem , Mohamed Walid Cherif , Mohamed Fahmi , James Asensio , Henry Fitzgerald Oconnor , Chris Sim , Mohamed Farouk Abdelkhalek , Hatem Soliman , Amit Kumar , Wouter Leemhuis , Yasser Hashem ,