November 10, 2015 / 7:11 AM / 4 years ago

Vitol to buy 15 percent stake in Pakistan oil marketer Hascol

KARACHI, Pakistan, Nov 10 (Reuters) - Global oil giant Vitol will acquire 15 percent of Pakistani oil company Hascol Petroleum Ltd, with an option to buy another 10 percent within one year, Hascol said.

“We would like to inform that a term sheet has been signed by Vitol Dubai Limited with the major shareholders of Hascol Petroleum Limited (Hascol) to buy 15 percent of the issued share capital of Hascol,” Zeeshan ul Haq, Hascol’s secretary, said in a statement.

No price was given, but Hascol has a market capitalisation of about $190 million, which would put the size of the deal at about $28.5 million.

$1 = 104.4300 Pakistani rupees Reporting by Asad Hashim; Editing by Richard Pullin

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below