Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 4 of Short Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 4

Description of the concentration

The notification concerns the acquisition, by way of share purchase, of 100% of Navig8 Topco Holdings Inc (the Target) by a wholly-owned subsidiary of Abu Dhabi Logistics & Services PLC (ADNOC L&S), which is majority owned and controlled by Abu Dhabi National Oil Company (ADNOC) P.J.S.C (ADNOC), from Navig8 Limited. 80% of the Target will be acquired in an initial phase, with the remaining 20% being acquired on 30 June 2027. The Commission has concluded that until 30 June 2027 Navig8 Limited will temporarily retain joint control over the Target's wholly-owned subsidiary, Integr8 Fuels Holdings Inc (Integr8).

ADNOC is an energy and petrochemicals group. It is principally active in the exploration, production, storage, refining, distribution of oil and gas, and in the development of petrochemical products.

ADNOC L&S comprises the maritime logistics arm of ADNOC, engaged in providing freight and charter services for the transportation of petroleum products and crude oil, the operation and maintenance of oil terminals, material handling, manpower and equipment supply, rental of stores, warehouses, office space and provision and the supply of chemicals and other on-shore oil and gas field services.

The Target is a fully integrated provider of shipping management services, operating globally as an owner, operator and active charterer and broker of ships, and shipping pools manager, spanning the clean and dirty tanker and chemical sectors. It also carries out (through joint ventures) technical ship management and other related services. Its wholly-owned subsidiary, Integr8, carries out marine (bunker) fuel trading and related services.

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