SAJ Investment acquires Hema Energy Group
SAJ Investment Company has announced the acquisition of a controlling stake in Hema Energy Group.
An agreement was signed on Monday by Sheikh Nasser al Hosni, CEO of SAJ Investment and Eng Eyhab bin Adnan al Hajj, group managing director of Hema Energy. The board of directors of Hema Energy welcomed the appointment of Hosni as chairman of the new board, according to a press release.
Hosni said that SAJ Investment’s strategy will be to position itself to have presence in the sultanate’s most prominent sectors and the acquisition of Hema Energy marks SAJ’s anchor in the prominent oil and gas sector.
Hema Energy, has its current activities spread within the energy sector from upstream to downstream, consulting as well as specialised industries. The company will be SAJ’s investment arm in the oil, gas and renewable energy sectors.
A restructuring and growth plan has been developed that will transform Hema Energy into a sector leader by diversifying its services, specialised products and strengthening its current seven subsidiaries.
Hosni said, “We at SAJ are proud that Hema Energy is a Omani company managed by young and ambitious team with a successful brief history that started in 2011. SAJ is now reviewing several opportunities in various other sectors such as banking, tourism, logistics, health and education to diversify its holding portfolio by acquiring well established active companies that can act as SAJ’s sectoral investment arms.”
Hajj expressed his delight with the agreement and the partnership.