Pakistan Refinery Limited Announces Intent to Acquire 77.42% Shares and Control of Shell Pakistan Limited

Karachi, Pakistan Refinery Limited (PRL) has made a significant disclosure in line with the Securities Act, 2015 and the rules of the Pakistan Stock Exchange Limited. In a material information release, PRL has conveyed that Next Capital Limited, acting as the Manager to the Offer, has submitted a Public Announcement of Intention (PAI) on July 17, 2023. This PAI represents PRL’s intention, in collaboration with Air Link Communication Limited (Air Link), to acquire 77.42% of the shares and assume control of Shell Pakistan Limited.

The proposed acquisition, in accordance with the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares & Takeovers) Regulations, 2017, signifies a strategic move for PRL and Air Link. As the news spreads across the market, investors and industry experts will closely monitor the developments surrounding this acquisition.

With Next Capital Limited spearheading the process as the Manager to the Offer, PRL’s intent to acquire a substantial stake in Shell Pakistan Limited highlights their strategic growth ambitions. The forthcoming period will witness the unfolding of crucial negotiations and regulatory procedures as PRL and Air Link aim to solidify their control over the renowned energy company.

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