Karachi: Clover Pakistan Limited announced its decision to acquire all Company Owned Company Operated (COCO) filling and service stations from its parent company, Fossil Energy (Private) Limited. This decision was approved by Clover's Board of Directors on September 15, 2025, as conveyed in their official statement.

The acquisition, which includes service stations currently under construction, is to be executed in the ordinary course of business. It aims to be in compliance with industry practices and conducted on an arm's length basis. The board has authorized the management to negotiate and finalize the acquisition terms, further delegating the authority to acquire additional sites as they become available.

According to information available from the Pakistan Stock Exchange (PSX), the transaction is contingent upon the finalization of deal terms, transaction documents, and the procurement of all necessary approvals, consents, and authorizations. As per the statement, the material information has been conveyed in compliance with Section 96 and 131 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Rule Book.

A disclosure form, as required under SRO 143/(1)/2012 dated December 5, 2012, accompanied the announcement, fulfilling the regulatory requirements. The exchange's Trading Rights Entitlement Certificate (TREC) Holders have been informed accordingly.