KARACHI: Clover Pakistan Limited has announced that its Board of Directors approved the acquisition of all Company Owned Company Operated (COCO) filling and service stations, including those under construction, from its parent company, Fossil Energy (Private) Limited (FEPL).
The company said the transaction is subject to finalisation of deal terms, execution of transaction documents, and obtaining all necessary approvals and consents. The acquisition will be carried out in the ordinary course of business, on an arm’s length basis, and in line with industry practices.
Clover added that the Board has authorised management to negotiate and finalise the terms, and has delegated authority for the acquisition of future sites as they become available.
Incorporated in 1986, Clover Pakistan is engaged in sales of consumer durables, food products, chemicals, and lubricants, alongside importing car care products and gantry equipment. The company also handles marketing, distribution, and post-sales support for office automation products, vending machines, fuel dispensers, and digital screens.
