Abu Dhabi – Mubasher: The board of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) will consider an acquisition of fuel distribution assets in Saudi Arabia.
During its meeting set to be held on 30 December 2020, the board will discuss acquiring the assets in exchange for $10 million (SAR 37.5 million), according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Monday.
It is noteworthy to mention that in 2018, ADNOC Distribution obtained an operating license from Saudi Arabia, allowing the company to operate, own, and manage fuel stations in the Kingdom.
