KARACHI: Hub Power Holdings Limited, a wholly owned subsidiary of The Hub Power Company Limited (Hubco) together with Eni’s local employees (in a 50:50 joint venture) has executed definitive agreements to acquire all the upstream operations in Pakistan of ENI and renewable energy assets owned by ENI in Pakistan. Eni is a global energy company, which has been operating in Pakistan since the year 2000 in the exploration and production sector.

The above transaction is subject to requisite compliance (s) with applicable legal and regulatory processes and approval from competent authorities, material information sent to Pakistan Stock Exchange on Monday said.

Copyright Business Recorder, 2021