SEPC Ltd Gets In-Principle Approval for UAE Petroleum Trading

SEPC Limited has received in-principle approval from its Board to enter the UAE petroleum trading business through the 100% acquisition of Wintality Petroleum FZE. The acquisition will be executed via a non-cash consideration, involving a share swap with SEPC's wholly-owned UAE subsidiary, SEPC FZE. This strategic move aims to expand SEPC's international footprint without any cash outflow from the parent company. Wintality Petroleum FZE, engaged in import, export, and global trading of refined petroleum products, will become a step-down subsidiary of SEPC Limited upon completion. The transaction involves restructuring SEPC FZE's equity, resulting in SEPC Limited retaining a 95.75% stake.