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Abu Dhabi Senaat wins NMDC investors nod for NPCC merger
ABU DHABI, December 15, 2020 Abu Dhabi s General Holding Corporation (Senaat) has announced that it has won approval from the shareholders of National Marine Dredging Company (NMDC) for merger with top Emirati engineering and construction group, National Petroleum Construction Company (NPCC). The NMDC shareholders today (December 15) voted to approve their offer to combine NPCC with the dredging firm. The proposed transaction would create a new national and regional integrated EPC champion with an established footprint in key markets within Mena and South Asia. The combined group would be one of the largest integrated oil and gas and marine services EPC players in the region with integrated 2019 revenue of AED8.875 billion ($2.41 billion), said the statement from Senaat.