A PYMNTS Company

UAE/UK: After Senergy sale, energy co weighs next M&A move

By  |  September 20, 2013

Energy services firm Senergy, based in the United Arab Emirates, is reportedly weighing its next merger following the sale of a major stake in the company to UK-based Lloyd’s Register, according to Lloyd’s chief executive James McCallum.

Now, reports say Senergy is looking to make up to three buyouts a year in the next three years to boost growth, aiming to up its annul turnover by two-thirds.

Further, Senergy said it expects Lloyds to increase its stake in the company to 100 percent in the next three years.

Full Content: The National

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.