
Gulf Navigation Completes Brooge Energy Acquisition
Gulf Navigation Holding, a Dubai Financial Market-listed company specialising in maritime and logistics services for the energy sector, has announced the completion of its acquisition of Brooge Energy Limited and its operating subsidiaries. The acquisition marks a key milestone in the company’s expansion strategy, reinforcing its position as an integrated provider of maritime services and energy infrastructure solutions in Fujairah, one of the world’s leading oil storage and trading hubs.
The addition of Brooge’s storage and blending facilities to Gulf Navigation’s existing portfolio positions the company to deliver end-to-end logistics and energy infrastructure solutions across the region.
As part of the transaction, Gulf Navigation increased its share capital from approximately AED 837 million to AED 1.65 billion and issued mandatory convertible bonds to Brooge’s shareholders. The company’s total share capital is expected to reach around AED 3.5 billion upon conversion in the near term.
Ahmed Al Kilani, Chief Executive Officer, described the acquisition as a “defining moment in Gulf Navigation’s transformation.” The company plans to implement an ambitious growth strategy, including expansion into refining, renewable energy, and clean fuel development, while further strengthening its core shipping and logistics operations. The strengthened balance sheet and expanded operational platform are expected to support significant new investments in energy infrastructure aligned with the UAE’s Net Zero 2050 strategy and the global transition toward sustainable energy systems.
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