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Abu Dhabi Nationwide Oil Firm’s potential acquisition of Gunvor, the vitality buying and selling home, has reached an deadlock because of disagreements over the deal’s dimension, folks accustomed to the negotiations mentioned.

Whereas Adnoc had hoped to accumulate all of Gunvor, or a majority stake, the commodity dealer’s chief govt Torbjörn Törnqvist is unwilling to yield management of the group he co-founded in 2000, folks concerned within the discussions mentioned.

Törnqvist, who controls virtually 90 per cent of Gunvor, has instructed Adnoc he’s prepared to promote solely a minority stake to lift funds to drive progress.

Gunvor and Adnoc declined remark.

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