Doha- Mubasher: Milaha Capital, subsidiary of Qatar Navigation (Milaha), plans to fully acquire Al Shaheen Energy Services Company in England, wholly owned by Qatar Petroleum.
A final agreement has not been yet reached but the deal’s value is expected to reach $110-180 million, subject to “certain assumptions and completion of confirmatory due diligence," according to a bourse statement.
The transaction will be funded by from the cash reserves of Milaha, the filing highlighted, adding that the acquisition is likely to be completed by the fourth quarter of 2016 and to have a positive impact on the financial position of Milaha and its shareholders.
