Milaha Ups Its Stake in Nakilat
- Business & Finance
Qatar-based maritime transport and logistics company Milaha has, through its subsidiary Qatar Shipping Company WLL, increased the company’s stake in compatriot LNG shipping firm Nakilat.
Namely, Milaha entered into an agreement for acquiring the entire stake of Qatar Investment Authority in Nakilat, representing 5.9% of Nakilat’s share capital.
The sale and purchase agreement was conditional on obtaining the consent of the Qatar Financial Markets Authority and the Qatar Central Securities Depositary Company.
Upon the completion of the transaction, Milaha’s stake in Nakilat was increased from 30.3% to around 36.3% of the company’s share capital, according to Abdulrahman Essa Al-Mannai, President and CEO of Milaha Group.