Al Subeai Investment Group made an offer to acquire 99.98% stake in Maridive Offshore Projects S.A.E. from Maridive and Oil Services S.A.E. (CASE:MOIL) for approximately EGP 750 million on February 11, 2021. As of February 15, 2021 Al Subeai will acquire 100% stake in Maridive Offshore from Maridive and Oil Services. The transaction is subject to the approvals of shareholders and Board of Directors of Maridive and Oil Services and regulatory authorities. As of February 15, 2021 the board of directors of Maridive and Oil Services approved the transaction.