Shell Petroleum Company Limited has executed a share purchase agreement for the sale of SPCo’s entire shareholding in Shell Pakistan Limited to Riyadh-based Wafi Energy, Shell Pakistan Limited (PSX: SHEL) informed the Pakistan Stock Exchange on November 01, 2023. “On 31 October, 2023, The Shell Petroleum Company Limited (SPCo) informed Shell Pakistan Limited that SPCo and Wafi Energy LLC (WAFI Energy) executed a Share Purchase Agreement (SPA) on 31 October 2023 for the sale of SPCo’s entire shareholding in the Company, comprising 165,700,304 shares and representing 77.42 percent of the issued share capital of the Company (the Transaction),” the stock filing stated
“Completion of the Transaction will be subject to the issuance of a public offer by WAFI Energy, receipt of requisite approvals including clearance from the Competition Commission of Pakistan, and the satisfaction of other closing formalities,” it added. https://tinyurl.com/33bbpvzz
Source: IBP