(Source: Middle East Company News)trackingAbu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services group, has acted as Mandated Lead Arranger for the $32m structured Ijara facility to fund the acquisition of up to 6 Offshore Supply Vessels (OSVs) for Waha Offshore Marine Services (WOMS), the marine chartering and operations arm of Waha Maritime.

About Waha Maritime

A world class maritime investment company with over $450m in assets, Waha Maritime has blazed new trails in the region’s maritime landscape through strategic acquisitions and joint ventures that have added significant new value to the industry. Waha Maritime invests in mainstream shipping and oil field services businesses that can both stimulate new industry growth and bring substantial returns to its shareholders. The company works constantly to unlock new opportunity through improved operations and fresh acquisitions. By skillfully synergising mutual resources, it has helped its portfolio companies achieve new levels of efficiency, productivity and profitability.

Waha Maritime has a range of exciting investments in ships and maritime assets in the regional oiloffshore support services sector. The company’s first investment was completed in July 2008 whenit acquired a 49% stake in the GMMOS Group, a major industrial holding company operating in the marine, oil and gas and crane-hire sectors across the Gulf and Caspian markets. Over the last three years, it has built a world-class offshore supply vessel (OSV) service catering to the oil and gas industry in the Gulf, Middle East, Caspian, and South Asia. Today, it controls close to 60 vessels deployed worldwide in addition to a shipyard with a $160m order- book. After gaining profile as one of the most dynamic new companies in the GCC’s maritime sector, Waha Maritime is now exploring new investment horizons in the region and beyond.

About Waha Capital

Waha Capital is a leading Abu Dhabi Securities Exchange-listed and Abu Dhabi-based diversified investment holding company. Waha Capital’s strategy is to drive multi-sector business growth and diversification through acquisitions, joint ventures and creation of new business. Its current business portfolio includes big-ticket leasing, financial services, maritime, oil and gas, and real estate development. Waha Capital’s main institutional shareholder is Mubadala Development Company.

For further information, please contact:

Amira Abdulla

Director of Corporate Communications

Waha Capital

Tel: +971 2 4039 378

About ADIB:

Abu Dhabi Islamic Bank (ADIB) was established on 20th May 1997 as a Public Joint Stock Company following the Emiri Decree No. 9 of 1997. The Bank commenced commercial operations on 11th November 1998, and was formally inaugurated by His Highness Sheikh Abdullah Bin Zayed Al Nahyan, on 18th April 1999. ADIB’s vision is to be a top-tier, global Islamic financial services group and its mission is to provide Islamic financial solutions to the global community.

The Bank carries out all contracts, operations and transactions in accordance with Islamic Shari’a principles.

ADIB’s core values, reflected in all its activities are: Simple and Sensible; Transparent; Mutual Benefit; Hospitality and Tolerance; and Shari’a inspired. It brings to its customers banking as it should be.

For media information, please contact:

Lamia Hariz

Corporate Communications & Public Relations

Abu Dhabi Islamic Bank

Tel: +971 2 6100 093

Mohammad Z. Al-Qassem

Associate Account Manager

Corporate & Finance Practice

Weber Shandwick – MENA

Tel: +971 4 3210 077 Ext. 1254

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