Abu Dhabi National Oil Company (ADNOC) P.J.S.C. announced today that it will transfer its equity holdings in its listed companies to XRG P.J.S.C. (XRG), ADNOC’s wholly-owned international energy investment arm. ADNOC will continue to maintain control and ultimate ownership of these companies through its 100% stake in XRG, reaffirming its commitment to long-term value creation and disciplined capital management.
The internal share transfers will not affect the daily operations, management teams, or strategic direction of the listed companies. Dividend policies will remain unchanged, reflecting ADNOC’s consistent track record of delivering sustainable and predictable returns.
These transfers are expected to strengthen XRG’s financial position and support its long-term growth by providing access to stable dividend streams, underpinned by the listed companies’ ongoing disciplined growth and capital return strategies.
The companies involved in the transfer include:
- Abu Dhabi National Oil Company for Distribution P.J.S.C. (ADNOC Distribution)
- ADNOC Drilling Company P.J.S.C. (ADNOC Drilling)
- ADNOC Gas plc (ADNOC Gas)
- ADNOC Logistics and Services plc (ADNOC Logistics & Services)
As previously outlined, following regulatory approvals and the successful completion of the planned combination of Borouge plc and Borealis AG into a new entity, Borouge Group International (BGI), which will also acquire NOVA Chemicals Inc. (Nova), ADNOC’s entire stake in BGI will be held via XRG. ADNOC also confirms that its full stake in Fertiglobe plc is held through XRG.
The transfers of ADNOC’s majority holdings in ADNOC Distribution, ADNOC Gas, and ADNOC Logistics & Services were completed today through an off-market transfer on the ADX, with the transfer of ADNOC Drilling to follow upon receiving regulatory approvals.
(Inputs from WAM)
