Abu Dhabi – Mubasher: The National Marine Dredging Company (NMDC) has received an offer to merge with National Petroleum Construction Company (NPCC), providing engineering, procurement, and construction solutions to the offshore and onshore oil and gas sector.
The offer was made by General Holding Corporation (Senaat), a part of ADQ, and other minority shareholders of NPPC, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Sunday.
As part of the offer, NPCC will be transferred to National Marine Dredging, and NMDC will issue a convertible instrument of 575 million shares to NPCC, representing 69.70% of the issued share capital of NMDC.
The share price at which the instrument will convert into shares in NMDC will be AED 4.40 per share.
The offer is subject to standard regulatory approvals.
