Vitol to acquire 15 percent of Hascol

Vitol Dubai Limited, part of the Vitol Group (Vitol), has entered into a Share Purchase Agreement (SPA) with a number of shareholders in Hascol Petroleum Limited (Hascol) to acquire shares equivalent 15 percent of Hascol's total share capital for a total sum of $28 million approximately, with the option to buy another 10 percent shareholding within one year, subject to the relevant regulatory approvals.
Chris Bake, Member of the Executive Committee, Vitol said: "Pakistan is a country with huge potential. We are delighted to be investing in its energy sector and look forward to working with Hascol to optimise their supply chain as they grow their footprint further."-PR