News Post
BOPL to merge with BPPL to become largest oil refinery
The Byco Petroleum Pakistan Limited (BPPL) board of directors, during a meeting held on Tuesday, approved a potential merger of BPPL and its wholly owned subsidiary, Byco Terminals Pakistan Limited (BTPL), with its holding company, Byco Oil Pakistan Limited (BOPL).
In this respect, BPPL would soon enter into discussions with the concerned entities.
The transaction is subject to approval by the BPPL’s shareholders, receipt of regulatory approvals and other customary closing conditions.
The proposed merger would create an unparalleled portfolio with substantial value for Byco’s shareholders and investors.
The new entity would have a vertically integrated footprint that would encompass Pakistan’s largest oil refinery, the biggest oil storage facilities, country’s only Single Point Mooring (SPM) as well as a petroleum marketing network of more than 250 stations.
Speaking on the occasion, Byco Group Spokesperson Aatiqa Lateef said, “We are pleased at the unique opportunities this merger will create for our investors and consumers. Over the past few years, Byco Petroleum’s growth has been substantial that has resulted in the company posting an after-tax net profit of Rs 414 million for the third quarter, ending on March 31.”
For subscriptions or a demo:
Sam Hassaniyeh
Subscription Executive
Phone: +44 203 4092242
For questions or to give feedback:
Thad Pittman
Senior Researcher
Phone: +1 (713) 525-4605
Download our brochure today!
Project News