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DHS Ventures & Holdings’ Vice Chairman, Fernando Aguirre, Announces Acquisition Of UAE’s Tritón Oil Ltd. In $780M Transaction

Washington, District of Columbia – DUBAI, United Arab Emirates, Evertise Digital, August 1, 2022 — The governing board of DHS Ventures & Holdings announced today through its Executive Vice Chairman, Fernando Aguirre , that it has closed on the acquisition of Tritón Oil Ltd. Tritón Oil Ltd. is a leading fully integrated oil refineries in Saudi Arabia. The transaction represents one of the region’s largest acquisitions in the oil and gas markets and is the first of many acquisitions by DHS Ventures & Holdings, a private equity and venture capital investment firm.

“The acquisition of Tritón Oil Ltd. represents our first transaction as we embark on a journey to build an integrated, customer-centric and technology-focused end-to-end global oil refinery business. We intend to support the region’s fast-paced economies while expanding our offering beyond the Saudi Arabia,” said Fernando Aguirre, Executive Vice Chairman of DHS Ventures & Holdings and Vice President of DHS Holdings Saudi Group.

Tritón Oil Ltd. founded in the 1982, is a highly specialized oil and gas producer business and has state-of-the-art operations and assets across Yemen, Qatar and the UEA, with a regional hub in Dubai. It has over 2,450 staff, 780 trucks and 350,000 square feet of warehouse capacity.

“We are humbled by what we have built over the past forty years and we could not have found a better-suited investor to take Tritón Oil Ltd. into its next phase of its growth. DHS Ventures & Holdings ambition to build a regional oil and gas refinery with global reach is inspiring and we are pleased that Tritón will be the foundation from which this vision is realized,” said Edgar Fuller Armstrong, outgoing CEO of Tritón Oil Ltd. and Chairman of Edson Holdings.

DHS Ventures & Holdings, a private equity and venture capital investments firm headquartered in Washington, DC, aims to build an integrated oil and gas refinery services powerhouse to tap into Saudi Arabia and the world’s growing energy sector. The firm is backed by regional industry leaders, including UAE-based DHS Holdings Saudi Group and SISCO, a company in Saudi Arabia.

“We see tremendous opportunity in Saudi Arabia, as well as the broader global oil and gas industry, and we intend to leverage our decades of experience and expertise to build, through M&A, a globally integrated petroleum businesses,” said Rakesh Sarna, Group CEO of DP World and Chairman of DHS Ventures & Holdings .

“We aim to offer unparalleled services to regional and global markets, while we support partners and customers to unlock and create value. In addition, the growing e-commerce sector, both regionally and globally, represents an important growth segment we intend to capitalize on,” added Chairman Sarna.

“Tritón Oil Ltd. is well positioned to capitalize on the projected growth in the petroleum sector as well as the broader express gas market, both in saud Arabia and around the world. We will capture value from the industry’s growth by strengthening our network and offering, while also exploring global growth opportunities,” said Mohammad Sharaz, Incoming CEO of Tritón Oil Ltd.


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Actual results may differ materially from those currently anticipated. Factors that could cause actual results to differ materially from those projected in the forward-looking statements include the following: market conditions; the impact of the COVID-19 pandemic; the parties’ ability to consummate the proposed merger and spin-off; the conditions to the completion of the transactions, including the receipt of approval of DHS Group Equity Partners’ investors; the regulatory approvals required for the proposed merger not being obtained on the terms expected or on the anticipated schedule; the parties’ ability to meet expectations regarding the timing, completion and accounting and tax treatments of the transactions; potential inability to retain key employees; DHS Group Equity Partners’ ability to operate NMG successfully as a standalone business; the ability to obtain financing on the expected terms; changes in interest rates; the consequences of acquisitions and/or dispositions; and DHS Group Equity Partner’ ability to comply with the terms of its debt financing; and market conditions.

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Kali Ferrati, Vice President of Communications