TAQA ARABIA EGX:TAQA:
TAQA ARABIA- EXECUTION OF BINDING HEADS OF AGREEMENT BETWEEN CO AND NATIONAL SERVICE PROJECTS ORGANIZATION (NSPO)
AGREEMENT OUTLINES COOPERATION TO TRANSFER 172 NSPO-OWNED “WATANIYA” FUEL STATIONS INTO NEWLY ESTABLISHED QUICK FUEL FOR PETROLEUM PRODUCTS TRADING AND DISTRIBUTION (QUICK FUEL)
PURSUANT TO TERMS OF AGREEMENT, TAQA ARABIA TO ACQUIRE A 10% EQUITY STAKE IN QUICK FUEL
OBTAIN OPTION TO ACQUIRE ADDITIONAL 15% EQUITY STAKE IN QUICK FUEL UPON ITS FUTURE LISTING ON EGYPTIAN EXCHANGE
TAQA ARABIA SHALL UNDERTAKE MANAGEMENT OF QUICK FUEL’S OPERATIONAL ACTIVITIES
TAQA ARABIA SHALL SUPPORT IMPLEMENTATION OF QUICK FUEL'S DEVELOPMENT AND EXPANSION PLANS