The Dubai-based oil services firm NPS Energy, which tried to sell itself to Norway’s Aker Solutions last year, has once again initiated a sale process to find a buyer, hoping to fetch up to US$700 million, sources aware of the matter said.
Aker agreed to buy NPS Energy for about $460m in May last year, including $110m in debt, but the deal collapsed in November after the two parties failed to reach a final agreement.
A formal sale process for the business was initiated earlier this year, the sources said, speaking on condition of anonymity as the matter was not public.
NPS Energy is part of National Petroleum Services, which was formed in 2004 from the merger of oilfield businesses owned by two large family-owned groups in Saudi Arabia and Qatar.
Demand for oilfield services in the Middle East, the world’s top oil-producing region, has increased rapidly in the past few years.
NPS Energy has appointed HSBC as a financial adviser for the transaction, according to the sources.
A spokesman for NPS Energy was not immediately available for comment. Adnan Ghabris, the firm’s chief executive, did not reply to an email seeking comment. A spokesman for HSBC in Dubai declined to comment.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Company%20Profile
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About Housecall
Date started: July 2020
Founders: Omar and Humaid Alzaabi
Based: Abu Dhabi
Sector: HealthTech
# of staff: 10
Funding to date: Self-funded
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
RESULTS
Mumbai Indians 181-4 (20 ovs)
Kolkata Knight Riders 168-6 (20ovs)
Mumbai won by 13 runs
Rajasthan Royals 152-9 (20 ovs)
Kings XI Punjab 155-4 (18.4 ovs)
Kings XI Punjab won by 6 wickets
EA Sports FC 25
Developer: EA Vancouver, EA Romania
Publisher: EA Sports
Consoles: Nintendo Switch, PlayStation 4&5, Xbox One and Xbox Series X/S
Rating: 3.5/5
COMPANY%20PROFILE%20
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THE BIG THREE
NOVAK DJOKOVIC
19 grand slam singles titles
Wimbledon: 5 (2011, 14, 15, 18, 19)
French Open: 2 (2016, 21)
US Open: 3 (2011, 15, 18)
Australian Open: 9 (2008, 11, 12, 13, 15, 16, 19, 20, 21)
Prize money: $150m
ROGER FEDERER
20 grand slam singles titles
Wimbledon: 8 (2003, 04, 05, 06, 07, 09, 12, 17)
French Open: 1 (2009)
US Open: 5 (2004, 05, 06, 07, 08)
Australian Open: 6 (2004, 06, 07, 10, 17, 18)
Prize money: $130m
RAFAEL NADAL
20 grand slam singles titles
Wimbledon: 2 (2008, 10)
French Open: 13 (2005, 06, 07, 08, 10, 11, 12, 13, 14, 17, 18, 19, 20)
US Open: 4 (2010, 13, 17, 19)
Australian Open: 1 (2009)
Prize money: $125m
The%20specs
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Company%20profile
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Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Scream%20VI
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Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Company%20profile
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Madrid Open schedule
Men's semi-finals
Novak Djokovic (1) v Dominic Thiem (5) from 6pm
Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm
Women's final
Simona Halep (3) v Kiki Bertens (7) from 8.30pm
Kill%20
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CREW
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now