SEPC EXPANDS INTO UAE PETROLEUM TRADING THROUGH ACQUISITION

SEPC Limited has received in-principle approval to enter the UAE petroleum trading business through the proposed 100% acquisition of Wintality Petroleum FZE.

The acquisition is proposed to be executed through a share swap, with no cash outflow for SEPC. Following the transaction, SEPC will retain a 95.75% stake in SEPC FZE, while Wintality Petroleum FZE will become a step-down subsidiary of SEPC Limited. Wintality Petroleum FZE is engaged in the import, export and global trading of refined petroleum products, providing SEPC with an entry into the UAE petroleum trading market. Key Takeaway: The proposed 100% acquisition through a non-cash share swap gives SEPC exposure to the UAE petroleum trading business without any immediate cash outflow.