KARACHI: OPI Gas has formally acquired a major share of Shell Petroleum Company’s i.e. 67.91 percent in Shell Gas LPG Pakistan Limited. The Share Purchase Agreement between OPI Gas and Shell Petroleum was signed in June this year, following a bidding process from which OPI Gas emerged successful.
The share transfer was made officially in the board meeting of Shell Gas LPG Pakistan, which was held at a t Hashoo Group Karachi office.
The share transfer has taken place following completion of all regulatory and corporate approvals, including a public offer under the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Ordinance 2002 and Regulations made thereunder.
Given the rising demand for LPG in the country, the company is confident that this acquisition will help maximise value for shareholders.
