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ENOC’s M&A chief on Dragon Oil deal

Aakash Nijhawan, head of M&A at Dubai’s national oil group - Emirates National Oil Company – explains the rationale behind the firm’s summer takeover of Dragon Oil.

Baillie Gifford and Elliott Capital – Dragon’s two largest shareholders - agreed to accept an improved 800p per share offer by ENOC for Dragon in August this year.

ENOC supplies jet fuel to Dubai International Airport, which carried more than 70 million international passengers last year.

It recently built a new pipeline from its storage terminals to the airport to cope with an expected increase in demand and also plans to extend the pipeline to Dubai’s second hub, Al Maktoum International Airport.

 
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August 07 2015

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