ADNOC Logistics & Services plc (ADX:ADNOCLS) agreed to acquire Navig8 Topco Holdings Inc from Navig8 Limited for $1.49 billion on June 3, 2024. Under the terms of the agreement, ADNOC L&S will acquire 80% of Navig8 for $1.04 billion with economic ownership transfer effective from January 1, 2024, and further acquire the remaining 20% ownership in 2027 for a deferred consideration of $335 million to $450 million. Navig8 delivered over $400 million EBITDA in 2023.

The agreement is subject to customary regulatory approvals.