Offer to Combine NPCC and National Marine Dredging

Senaat, a part of ADQ, and other minority shareholders of NPCC, submitted the offer with the aim of creating a national and regional integrated EPC company with an established footprint in the Middle East, North Africa, and South Asia. The combined entity would have integrated 2019 revenue of $2.42 billion (AED8.875 billion). It is the intention to maintain NMDC’s existing listing, positioning the combined group as one of the largest companies on the Abu Dhabi Securities Exchange, ADX, which is expected to have a positive impact on overall demand and liquidity for the combined group’s shares.

As one of the largest pan-regional EPC players, this transaction will create a larger, more diversified and financially flexible national champion. By bringing together two highly complementary businesses, we will be able to successfully drive increased growth while showcasing the very best of Abu Dhabi and its industry-leading capabilities on the global stage.

Subject to completion of the transaction, ADQ and Senaat will also consider increasing the free float of the combined group through a follow-on public offering at a later date. If the offer is accepted and receives the necessary regulatory approvals, the transaction is expected to close towards the end of 2020.

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