Brussels: Europe and the Arabs
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of NTS Middle East in the United Arab Emirates by ADNOC Drilling Company P.J.S.C. (“ADRILL”), Alpha Abuabi Holding (“ADH”), both from the United Arab Emirates, and Tubasex from Spain.
The transaction primarily concerns the provision of specialized machinery services to the oil and gas sector.
The Commission concluded that the announced transaction would not raise competition concerns, as the companies are not active in the same or vertically related markets. The announced transaction was examined under the simplified merger review procedure.
On 18 September 2024, the Commission received a notification of the proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004 (1).
This notification concerns the following entities

ADNOC Drilling Company P.J.S.C. (‘ADRILL’, UAE),
Alpha Abudha Holding (‘ADH’, UAE),
Tubacex S.A. (‘Tubacex’, Spain), and
NTS Middle East FZCO (‘NTS Middle East’, UAE), which are under common control by ADH and Tubacex.
ADRIL, ADH and Tubacex will acquire common control of NTS Middle East pursuant to Article 3(1)(b) and Article 3(4) of the Merger Regulations.
Concentration is achieved through the purchase of shares.
2. The business activities of the entities concerned are as follows:
ADRILL is engaged in onshore and offshore drilling activities, and the provision of drilling-related ancillary services,
ADH is an investment company focused, among other things, on assets related to climate capital, real estate, healthcare, construction, hospitality and energy
Tubacex is engaged in the manufacture of products from advanced stainless steel and special alloys for the energy and mobility sectors.
3. NTS Middle East is engaged in providing specialized machinery services to the oil and gas sector (including precision manufacturing, repair services and tool rental).
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