Monday 15, October 2018 by Kudakwashe

Waha Capital acquires minority stake in Dubai's Petronash

 

The deal includes options to further increase Waha Capital’s stake in Petronash up to 50 per cent.

Waha Capital has acquired a significant minority stake in Dubai-based Petronash Holding, an oilfield services and manufacturing company.

In a statement, Waha Capital stated that as part of this transaction, Petronash will establish research and development centres in India and Saudi Arabia to drive innovation and technology integration to expand the company’s service and product lines as well as widen the customer base.

Michael Raynes, CEO of Waha Capital, said that this is a hugely promising investment that pushes forward our strategy of making focused direct investments in highly cash-generative companies in our areas of expertise, which include energy, technology and financial services.

 

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