Saudi Aramco is considering a bid for Shell Plc’s assets in Pakistan, if it decides to go through with it would be the Gulf oil giant’s first entry into the South Asian nation, The News reported citing a Bloomberg report.
People who spoke to the publication on the condition of anonymity said that the Saudi oil giant is studying Shell assets including Karachi-listed Shell Pakistan Ltd which holds a market value of $123 million. The Pakistani assets of the oil and gas company could be valued at around $200 million in a transaction, they added.
Shell has over 600 fuel stations in Pakistan and has been operating in the country for 75 years.
However, the people who spoke to the publication clarified that the interest does not mean that it would lead to a buyout and other suitors could also emerge.
A Shell representative said they were getting strong interest from local and international buyers but declined to share any specifics.
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