“ADNOC” receives approval to acquire controlling stake in “Vertiglobe”

Abu Dhabi (Etihad)

Abu Dhabi National Oil Company (ADNOC) announced that its purchase of OCA’s stake (50% + one share) in Vertiglob, announced in December 2023, has received all necessary approvals and is expected to it’s ready on sunday.
Prior to the completion of the agreement, a large trading transaction took place on the Abu Dhabi Securities Market yesterday, Friday, October 11, and will be settled on Tuesday, October 15.
After the deal is completed, ADNOC’s stake in Vertiglob will rise to 86.2%, while the percentage of free shares traded on the Abu Dhabi Securities Market will remain at 13.8%.
Vertiglob’s management is holding an information session (remote) for investors and analysts on Tuesday, October 15, to review the company’s plan to further grow, increase and increase value, and the details of the t -announce session after a while.