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Milaha increases stake in Nakilat

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LNG Industry,

Qatar Navigation Q.P.S.C. (Milaha) has announced that its subsidiary, Qatar Shipping Co. WLL, has entered into an agreement for acquiring the entire stake of Qatar Investment Authority in Qatar Gas Transport Co. Ltd Q.P.S.C. (Nakilat), representing 5.9% of Nakilat’s share capital.

According to the statement, the sale and purchase agreement (SPA) was conditional on obtaining the consent of the Qatar Financial Markets Authority and Qatar Central Securities Depositary Co.

The President and CEO of Milaha Group, Mr. Abdulrahman Essa Al-Mannai, said that the company was holding (both directly and indirectly) a 30.3% stake in the share capital of Nakilat and, as a result of the acquisition referred to above, has become the owner (directly and indirectly) of shares totalling approximately 36.3% of Nakilat’s share capital.

The President and CEO went on to say that Milaha is a founder and major shareholder of Nakilat, adding that the increase in Milaha’s stake in Nakilat stems from Nakilat’s success and Milaha’s belief in the field of gas transportation.

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