Riyadh – Mubasher: The board of National Gas Industrialization Company (GASCO) has approved, on 27 December, to enter negotiations with Best Gas Carrier Company to acquire equity in the latter.

The investment committee will monitor all negotiations, opportunity assessment, and completion of related regulatory requirements, according to a bourse filing on Tuesday.

The Saudi listed company affirmed that starting the negotiations with the sole-proprietorship firm does not reflect finalisation of the stake acquisition, as the process will be subject to regulatory approvals.

GASCO noted that there are no present expectations regarding the financial impact of the potential acquisition.

It is worth noting that the Best Gas Carrier Company operates in buying gas-filled and empty cylinders with their accessories from GASCO to resell them to end-consumers.