Milaha Increases its stake in Nakilat to 36.3%

The Sale and Purchase Agreement was conditional on obtaining the consent of the Qatar Financial Markets Authority and the Qatar Central Securities Depositary Company

  

Qatar Navigation Q.P.S.C. (Milaha) announced that its subsidiary, Qatar Shipping Company WLL has entered into an agreement for acquiring the entire stake of Qatar Investment Authority in Qatar Gas Transport Company Ltd Q.P.S.C (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.

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

Mr. Al-Mannai said that Milaha is a founder and major shareholder of Nakilat, and added that, the increase of Milaha’s stake in Nakilat stems from Nakilat’s success and Milaha's belief in the vital field of gas transportation. Nakilat is a leading gas transporting company and is the World largest LNG transporting company.

About Milaha
The company was established in July 1957 as the first public shareholding company registered in Qatar and holds commercial registration no. 1.  Milaha’s current activities include marine transportation in gas, petroleum products, containers and bulk; offshore support services; port management and operations; logistics services; shipyard; trading agencies; real estate investments; and asset management.

The legal entity, Qatar Navigation Q.P.S.C, is publicly listed on the Qatar Exchange (QNNS). For further details, please visit the company’s website www.milaha.com

For additional information, please contact:
Corporate Communications
Tel: +974 4494 9624; Fax: +974 4483 3244
Email: maljehani@milaha.com 

© Press Release 2019

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