Innovative Energy and The Public Investment Fund to acquire a remaining 31.2% stake in ADES International for $161m.

Innovative Energy, a newly formed company to be jointly owned by ADES Investments, Public Investment Fund of Saudi Arabia, and Zamil Group Investment, agreed to acquire a remaining 31.2% stake in ADES International, a provider of oil and gas drilling and production services, for $161m. The takeover by Innovative Energy will enable the delisting of ADES International from the London Stock Exchange, where it has been trading since 2017. "Our offer provides an attractive opportunity for the drilling company’s shareholders to get exposure to the oil and gas drilling and production services sector in the MENA region," Innovative Energy. On April 20, 2021, Innovative Energy had received valid acceptances of the offer.