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Apicorp exits National Petroleum Services

The Arab Petroleum Investments Corporation (Apicorp) announced on Wednesday that it successfully exited from National Petroleum Services (NPS), an oilfield services firm after completing the sale of its 29 per cent equity to Nasdaq listed National Energy Services Reunited Corporation, four years after it made the investment.

“Despite challenging market conditions, NPS exhibited consistent growth and has transformed into a leading provider of integrated energy services in the MENA and Far East Asia regions,” Apicorp said in a statement.
Apicorp’s original investment in NPS was made in 2014 as part of a consortium of regional investors who acquired 90 per cent of the business.

Source: Gulf News

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