Enersol raises stake in US-based Gordon Technologies to 64.2%

Enersol raises its stake in US Gordon Technologies to 64.2%: Enersol, a joint venture between Adnoc Drilling and Alpha Dhabi Holding, acquired an additional 42.2% stake in US-based Gordon Technologies for USD 270 mn (AED 991.7 mn), increasing its total ownership to 64.2%, according an ADX disclosure (pdf) from Adnoc Drilling.

BACKGROUND- Enersol said in June it wanted to raise its stake in Gordon. Alpha Dhabi had transferred in January a 25% stake in Gordon to Enersol, making it the JV’s first investment.