Abu Dhabi Nationwide Oil Firm’s potential acquisition of Gunvor, the power buying and selling home, has reached an deadlock as a consequence of disagreements over the deal’s measurement, folks aware of the negotiations stated.
Whereas Adnoc had hoped to accumulate all of Gunvor, or a majority stake, the commodity dealer’s chief government Torbjörn Törnqvist is unwilling to yield management of the group he co-founded in 2000, folks concerned within the discussions stated.
Törnqvist, who controls virtually 90 per cent of Gunvor, has informed Adnoc he’s prepared to promote solely a minority stake to boost funds to drive development.
Gunvor and Adnoc declined remark.
