Maridive & Oil Services Company (Maridive) announced it has received a non‑binding offer from the Arab Petroleum Investments Corporation (APICORP), also known as the Arab Energy Fund, to acquire 20% of its shares, valuing the potential transaction at up to $67.7 million, the company said in a statement to the Egyptian Exchange (EGX).

The offer includes approximately 94.1 million shares priced between $0.65 and $0.72 per share. The offered price is higher than the average trading price of Maridive shares during the last three months by 32–46%. On a six month averrage base, the offer is  42–57%  higher.

Maridive, Egypt’s largest provider of offshore marine and oil support services, said the proposal is subject to due diligence, regulatory approvals and internal clearances by the Arab Energy Fund. Maridive will provide requested documents within five working days, with the review expected to conclude within 60 working days, extendable with approval from Egypt’s Financial Regulatory Authority (FRA).

The board of directors is scheduled to meet next week to examine the offer, which remains non‑binding and could be withdrawn if material adverse changes occur in Maridive’s financial or operational position.

The Arab Energy Fund is a multilateral financial institution. It aims to support the energy ecosystem with comprehensive financing solutions, advancing energy security, enabling sustainability, and developing local value chains that contribute to economic prosperity across the Organization of the Petroleum Exporting Countries (OPEC) member states and the MENA region.