GASCO Board approves negotiation to acquire shares of ‘Best Gas Carrier’

National Gas & Industrialization Company (GASCO) announced on Tuesday the resolution of the board of directors to approve the negotiation with Best Gas Carrier Company “A sole proprietorship” for the acquisition of shares of the Best Gas Carrier Company.

National Gas and Industrialization Company announces the approval of the board of directors per the meeting conducted on the evening of Monday, December 27, 2021 for negotiating with Best Gas Carrier Company, a sole proprietorship, for the purpose of acquiring their shares; the board has delegated the investment committee to oversee the process of negotiations, opportunity evaluation and completion of the associated regulatory requirements.

to be acknowledged that this set of negotiations does not imply any deal finalization between two parties, and in case of reaching an agreement, it will be subject to the regulatory requirements and approvals; moreover, the company is not in a position at present to gauge the financial impact, and further updates will be issued in case of any progress.

It’s important to mention that the Best Gas Carrier Company is a sole proprietorship with limited liability, and they operate in buying gas filled cylinders, and empty cylinders with their accessories from the National Gas and Industrialization Company for ultimately reselling them to the end-consumers.