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A consortium of Gulf-based investors including Fajr Capital and Arab Petroleum Investment Corp. (APICORP) have agreed on a deal to acquire Dubai-based oilfield services firm National Petroleum Services, Fajr said Tuesday.While Fajr didn't specify how much of NPS the group was buying nor who the selling shareholders were, the statement said some of the current shareholders would retain a minority stake, including Abdul-Aziz al-Dolaimi, who would continue as chairman.In a separate statement to the Saudi stock market late Monday, Saudi Advanced Industries Co. said it was selling its 20 percent stake in NPS for $110 million.
Dubai is spending more than $45 billion on a new airport and another $2.9 billion on a theme park. Then there’s $6.8...
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