The board members of Abu Dhabi’s National Marine Dredging Company (NMDC) has approved an offer from National Petroleum Construction Company (NPCC).

It was reported earlier this year that NMDC had approved a merger with NPCC.

In a statement to Abu Dhabi Securities Exchange (ADX) released today, the board said it had invited the general assembly to consider the offer on December 8, and recommended it to shareholders for approval, including the sale and purchase agreement and the issuance of mandatory convertible bonds in NMDC to the shareholders of NPCC.

(Writing by Imogen Lillywhite; editing by Seban Scaria)

(imogen.lillywhite@refinitiv.com)

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