Lahore: A deal of $40m has been clinched by Swiss oil trading company Trafigura to acquire shares in Pakistani oil marketing company Admore.
Trafilgura is the 2nd biggest private oil trader globally and is set to acquire a 51pc majority stake in Admore.
Admore has a chain of over 471 petrol pumps across Pakistan with its headquarters centred in Karachi. As per Amir Wali ud Din Chishti, CEO Admore confirmed a deal with Trafigura is expected to be signed by the 26th of this month.
Chishti added that Trafilgura is expected to base its foreign teams in the country which would help expand their operations.
He said this investment being made in oil marketing sector augers well for the country.
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