PRL & Air Link Express their Intention to Buy Shell Pakistan Limited

Last month, famous fuel & lubricant company Shell Pakistan announced to exit the country and sell all its businesses. As per a source, Shell Pakistan made the decision in order to simplify its portfolio.Today, Next Capital Limited has submitted a Public Announcement of Intention (“PAI”) on behalf of Pakistan Refinery Limited (PRL) and Air Link Communication Limited (Air Link) have expressed their interest in buying 77.42% shares of Shell Pakistan Limited.

Major acquisition: PRL and Air Link to control Shell Pakistan

It is pertinent to mention here that Next Capital Limited has been appointed as Manager to the Offer in conformity with regulation 6(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

The total number of shares that are going to be acquired by these companies stands at 165,700,304. Furthermore, it should be noted here that the majority of shares in Pakistan State Oil (PSO) is the parent company of the PRL with major shares in the latter company. So, the move will surely expand the network of PSO in Pakistan.

About Air Link Communication Limited:

Air Link Communication is a major player in the telecom industry in Pakistan. With extensive experience of over a decade, they are involved in smartphone distribution, manufacturing, and retail. They have a wide network across the country, including hubs, regional offices, wholesalers, retailers, and after-sales service centers in major cities.

About PRL:

Pakistan Refinery Limited is one of the five oil refineries operating in Pakistan. The company is involved in making and selling petroleum products. It is a subsidiary of Pakistan State Oil Company Limited.

Also read:

Shell faces a tough financial year with PKR 4,762 million loss after tax

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