Live news: Apollo proposes fourth cash offer for Wood Group
Abu Dhabi Nationwide Oil Firm’s potential acquisition of Gunvor, the power buying and selling home, has reached an deadlock because of disagreements over the deal’s measurement, folks aware of the negotiations mentioned.
Whereas Adnoc had hoped to accumulate all of Gunvor, or a majority stake, the commodity dealer’s chief government Torbjörn Törnqvist is unwilling to yield management of the group he co-founded in 2000, folks concerned within the discussions mentioned.
Törnqvist, who controls nearly 90 per cent of Gunvor, has informed Adnoc he’s keen to promote solely a minority stake to lift funds to drive progress.
Gunvor and Adnoc declined remark.