Clover Pakistan sets sights on oil marketing sector

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

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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.

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