Abu Dhabi's Waha Capital buys into Dubai's National Petroleum Services | Reuters

Abu Dhabi's Waha Capital buys into Dubai's National Petroleum Services | Reuters:



"Abu Dhabi investment firm Waha Capital said on Sunday it had bought a 20.56 percent stake in Dubai-based oilfield services firm National Petroleum Services for $76 million, as part of an increased emphasis on the region's energy sector.



In April, a consortium of Gulf-based investors including Fajr Capital and Arab Petroleum Investment Corp (APICORP) agreed on a deal to acquire NPS; Fajr said at the time that the deal was worth over $500 million.



Waha said in its bourse statement on Sunday that it was part of the consortium and that the deal, with a total equity value of $370 million, had now closed. It did not explain the difference between its valuation of the acquisition and the figure given earlier by Fajr."



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