Clover Pakistan sets sights on oil marketing sector

MG News | April 21, 2025 at 03:32 PM GMT+05:00

0:00

April 21, 2025 (MLN): Clover Pakistan Limited (PSX: CLOV) is eyeing a potential entry into the oil marketing sector, as its Board of Directors met today to discuss a strategic investment or acquisition in an Oil Marketing Company (OMC).

In a meeting held today, the management presented a proposal to explore the viability and feasibility of investing in or acquiring a business primarily engaged in oil marketing.

Following the discussion, the Board approved for the company to proceed with the exploration process.

The Board has also authorised the company to evaluate funding sources for the potential investment or acquisition.

This includes the appointment of advisors, valuators, and consultants to assist with feasibility assessments. Additionally, Clover Pakistan has been permitted to conduct due diligence, carry out valuations, finalise the transaction structure, and prepare all necessary documents for Board consideration.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	164,444.72 1,390.47M	-0.75% -1241.66
ALLSHR	100,263.22 3,076.68M	-0.52% -522.58
KSE30	50,467.16 136.66M	-0.90% -456.01
KMI30	239,381.13 102.98M	-0.94% -2269.59
KMIALLSHR	66,143.45 1,531.56M	-0.67% -449.11
BKTi	46,609.98 59.41M	-0.86% -404.53
OGTi	32,245.33 12.94M	-0.42% -134.82

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,105.00	108,790.00 108,105.00	-340.00 -0.31%
BRENT CRUDE	61.02	62.75 60.84	-0.89 -1.44%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-0.75 -0.92%
ROTTERDAM COAL MONTHLY	93.00	93.00 92.50	1.95 2.14%
USD RBD PALM OLEIN	1,085.00	1,085.00 1,085.00	0.00 0.00%
CRUDE OIL - WTI	57.02	57.09 56.97	-0.44 -0.77%
SUGAR #11 WORLD	15.85	15.87 15.58	0.16 1.02%