Karachi, In a significant development for the corporate landscape, Pakistan Refinery Limited and Air Link Communication Limited have jointly declared their intention to acquire 77.42% shares and assume control of Shell Pakistan Limited. The Public Announcement of Intention, submitted by the Acquirers through Next Capital Limited, signifies a substantial acquisition under the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares & Takeovers) Regulations, 2017.

With Next Capital Limited appointed as the Manager to the Offer in accordance with the relevant regulations, this move represents a notable strategic maneuver within the corporate realm.

As the Acquirers embark on this acquisition journey, the market eagerly awaits further developments in this dynamic business landscape.