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FinancialNews


  • 15-11-17

    Adnoc to offer fuel distribution unit stake

    (MENAFN) Through an initial public offer (IPO), Abu Dhabi National Oil Company (Adnoc) is set to offer a minority stake in its fuel distribution and convenience retail store subsidiary, Adnoc Distribution.

    Including those of the UAE Securities and Commodities Authority and the ADX, the proposed IPO is subject to the finalization of all regulatory approvals, a statement from Adnoc said.

    Making it the largest operator of a retail network in the UAE, Adnoc Distribution boasts a pan-UAE network of 360 fuel service stations, including car washes and other car inspection services, as well as 235 Oasis-branded convenience stores.

    MENAFN1511201700450000ID1096091422

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