Abu Dhabi begins ‘historic’ privatisation process with petrol stations
Abu Dhabi National Oil Co, the oil company owned by the emirate, has announced plans to float its chain of petrol stations in the United Arab Emirates, in what could be a highly significant deal for the region.
Gulf states are trying new financial measures to cope with the fall in oil prices, but the IPO on the Abu Dhabi Securities Exchange could have wider implications.
Adnoc Distribution’s IPO is the first in an expected wave of privatisations in the region, as low oil prices since 2015
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