GO Company, which operates in the field of fuels, lubricants and various stores, is one of the largest warehousing and retail companies in Pakistan.
Aramco stated that completion of the agreements is subject to regulatory approvals and final requirements.
The agreed upon acquisition represents Saudi Aramco's first entry into the retail fuel markets in Pakistan, which strengthens its value chain strategy in the refining, chemicals and marketing sector at the global level, according to the statement.
The deal will enable Saudi Aramco to secure additional outlets for its refined products, and open new markets for Valvoline-branded lubricants, after Saudi Aramco acquired the global products business of the American company Valvoline in February of this year.
Mohammed bin Yahya Al-Qahtani, President of Refining, Chemicals and Marketing at Saudi Aramco, said: “This is Saudi Aramco’s second planned acquisition in the retail sector during this year, and this is in line with the company’s strategy to expand in the field of refining, chemicals and marketing, and the company’s clear vision to grow its integrated business portfolio.” in refining, marketing, lubricants, trading, and chemicals worldwide.”
He added, “Go Company possesses important storage capabilities, as well as high-quality assets, and future growth opportunities. This enhances Saudi Aramco's ambitions to launch its brand in Pakistan.”
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