Karachi March 29 2024: Hascol Petroleum Limited board of directors decided to engage with Millat Global Holding Limited for selling of 76% stake of the Hascol Petroleum, according to company filing to the exchange.
The board of Hascol Petroleum Limited “RESOLVED THAT the management of the Company be and is hereby authorized to further evaluate the Offer dated March 25, 2024 received from Millat Global Holdings (“Offer”) along with supporting information and to engage in further discussions with Millat Global Holdings for seeking further details and clarifications in relation to the Offer and to submit recommendations for further consideration and approval by the Board.”
The Board of Directors of Hascol Petroleum Limited has received an offer from Millat Global Holdings, a DIFC company of Millat Energy Group, to acquire 76% shareholding of Hascol Petroleum Limited by way of issue of capital other than by way of right.
