Type of matter Parties involved Tribunal Decision
Large merger Abu Dhabi Marine Business and Services Company PJSC and Navig8 Topco Holdings Inc Approved without conditions

The Competition Tribunal (“Tribunal”) has unconditionally approved the proposed merger wherein Abu Dhabi Marine Business and Services Company PJSC (“ADMBS”) intends to acquire a specified percentage of the issued share capital of Navig8 Topco Holdings Inc (“Navig8”).

ADMBS is a public joint stock company incorporated in Abu Dhabi, in the United Arab Emirates. The acquiring group (ADMBS, the firms controlling it and the firms controlled by it) is an energy and petrochemical group that operates across the entire hydrocarbon value chain. It is principally active in the exploration, production, storage, refining, and distribution of oil and gas as well as other petrochemical products. In South Africa, the acquiring group is active in the supply of various products.

Navig8 is a wholly owned subsidiary of Navig8 Limited, which is an entity incorporated in Bermuda. It is a fully integrated shipping management services provider that operates as an owner, operator and active charterer and broker of ships and shipping pools, spanning the clean and dirty tanker and chemical sectors. It generates sales from South Africa through its foreign affiliates from the sale of bunker fuels and the provision of bulk tramp shipping services.

Issued by:

Gillian de Gouveia, Communications Manager

On behalf of the Competition Tribunal of South Africa

Cell: +27 (0) 82 410 1195

E-Mail: GillianD@comptrib.co.za

Twitter: @comptrib

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