Clover Pakistan approves acquisition of COCO filling and service stations

MG News | September 15, 2025 at 05:19 PM GMT+05:00

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September 15, 2025 (MLN): Clover Pakistan Limited(PSX:CLOV) has approved the acquisition of all Company Owned Company Operated (COCO) filling and service stations, including those under construction, from its parent company Fossil Energy (Private) Limited.

The transaction will be undertaken in the ordinary course of business, on an arm’s length basis, and in line with industry practices, according to the company's statement issued today.

The Board has authorized the management to negotiate and finalize the terms of the acquisition.

The statement further noted that the Board has also delegated authority to the management for the acquisition of additional sites as they become available.

However, the deal remains subject to finalization of transaction documents and obtaining all requisite approvals, consents, and authorizations.

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