Qatar Navigation Hikes Stake in Nakilat

Qatar Navigation (Milaha) February 4 said it has increased its stake in Qatar Gas Transport Company (Nakilat).

Milaha subsidiary Qatar Shipping Company has entered into an agreement for acquiring the entire stake of Qatar Investment Authority in Nakilat representing 5.9% of Nakilat’s share capital. The agreement was conditional on obtaining the consent of the Qatar Financial Markets Authority and the Qatar Central Securities Depositary Company, Milaha said. Post the deal, Milaha will own 36.3% stake in Nakilat.

Abdulrahman Essa Al-Mannai, CEO of Milaha Group said the increase of Milaha’s stake in Nakilat stems from latter’s success and Milaha's belief in the vital field of gas transportation.

Nakilat is a leading gas transporting company and is the world largest LNG transporting company. Milaha’s current activities include marine transportation in gas, petroleum products, containers and bulk; offshore support services; port management and operations; logistics services; shipyard; trading agencies; real estate investments; and asset management.