Taj Gasoline drops bid to acquire Hascol Petroleum

MG News | January 16, 2024 at 09:40 AM GMT+05:00

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January 16, 2024 (MLN): Taj Gasoline (Private) Limited has decided not to proceed with the acquisition of at least 41% of Hascol Petroleum Limited (PSX: HASCOL), the manager to this offer informed through a notice sent to the local bourse today.

Consequently, Taj Gasoline is withdrawing the Public Announcement of Intention (PAI) in respect of the transaction.

AKD Securities Limited was the manager for this offer and disseminated this information on behalf of Taj Gasoline.

"In accordance with regulation 21 of the regulations read with the act, we hereby give notice that the acquirer has decided not to proceed with the acquisition," the notice reads.

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