Abu Dhabi, UAE — Al Seer Marine, a subsidiary of the International Holding Company (IHC), has secured a cornerstone investment in ADNOC Logistics & Services with share value of AED 257 million ($70 million).
The move comes as part of the company’s strategy to diversify its investment portfolio, the company said.
“Al Seer Marine is building on its highly diversified investment portfolio, and with ADNOC has excellent and longstanding track record and network within the global energy maritime logistics sector, we are confident this cornerstone investment in ADNOC Logistics & Services PLC will reflect positively on our growth strategy,” said Guy Neivens, CEO of Al Seer Marine.
Al Seer Marine was the sixth IHC Group company to list on the ADX in 2021. The company has a portfolio of services including management and training, construction of vessels, tankers, high-tech boatbuilding, unmanned systems development, and manufacturing. Early this year, Al Seer Marine unveiled “MEGA II” in Abu Dhabi, a 36-meter-long and the world’s largest 3D Printer.