15% was earlier acquired and with the current 10%, Vitol has 25% share in Hascol
Vitol Dubai Limited, which is part of the Vitol Group (Vitol), has completed the purchase of shares equivalent to 10% of Hascol Petroleum Limited’s (Hascol) share capital, for a total sum of approximately USD 18.7m. 15% of Hascol was earlier acquired and its total shareholding is therefore equivalent 25% of the share capital of Hascol.
“Pakistan is experiencing solid economic growth and an expanding energy sector. It is an opportune time for Pakistan and we are pleased to be increasing our investment in Hascol,” said Chris Bake, Member of the Executive Committee, Vitol.
A fast growing retailer within Pakistan, Hascol has over 400 fuel service stations nationwide with sales increase of 29% in volume terms year on year, and is well positioned to continue to serve Pakistan’s growing energy needs. PWKD04072017