DUBAI, April 22 A consortium of Gulf-based
investors including Fajr Capital and Arab Petroleum Investment
Corp (Apicorp) have agreed on a deal to acquire
Dubai-based oilfield services firm National Petroleum Services,
Fajr said on Tuesday.
The transaction, which is expected to close in the second
quarter of 2014, is valued "in excess of $500 million", it said
in a statement.
While Fajr didn't specify how much of NPS the group was
buying, the statement said some of the current shareholders
would remain as minority shareholders, including Abdul Aziz Al
Dolaimi, who would continue as chairman.
Chief executive Adnan Ghabris will also remain in his role,
with the management team unchanged, the statement added.
(Reporting by Bernardo Vizcaino; Writing by David French;
Editing by Andrew Torchia)