KARACHI. 20 Aug (TNS): The world’s second largest private oil trader, Trafigura, is set to purchase shares of Admore oil marketing company of Pakistan in a deal of nearly $40 million.
According to reports, the Swiss private oil trading company will acquire 51 percent shares in Admore.
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Admore Co has as many as 471 petrol pumps across Pakistan, with its headquarter in Karachi.
Admore Cheif Executive Officer Amir Wali ud Din Chishti confirmed that the deal with Trafigura is expected to be signed on August 26.
“The Swiss oil trading company is scheduled to deploy foreign teams in Pakistan to further expand their investment.” He further said
Chishti said that European investment in oil marketing sector is a good omen for the country.
