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Corral Petroleum Holdings AB (CPH), an oil refining firm underneath the possession of the esteemed Saudi-Ethiopian billionaire Sheikh Mohammed Hussein Al-Amoudi, has set its sights on divesting its subsidiary, Preem Holding AB.
This comes as Preem presently embarks on its most bold transformation thus far, with a resolute mission to change into a extremely worthwhile and climate-neutral entity by 2035.
Regardless of this transformation, Preem remained steadfast in its dedication to supplying renewable and conventional fuels to clients each domestically in Sweden and overseas.
Al-Amoudi’s Preem: A Swedish vitality powerhouse
Preem stands as considered one of Sweden’s outstanding vitality firms, acclaimed for its pioneering position in producing superior renewable fuels throughout Scandinavia.
The corporate’s intensive attain encompasses over 550 petrol stations and two refineries located in Gothenburg and Lysekil.
It additionally constitutes a considerable 80 per cent of Sweden’s refining capability and a notable 40 per cent of the Nordic refining capability, amounting to a powerful 18 million cubic meters yearly.
Preem’s spectacular monetary efficiency
Within the fiscal 12 months 2022, Preem Holdings reported exceptional gross sales figures of SEK 161 billion ($14.6 billion) alongside a powerful working revenue of SEK 14.8 billion ($1.3 billion).
With an accessible liquidity pool of SEK 16 billion ($1.4 billion) and a internet leverage ratio of 0.3x as of June 2023, Preem stands as a financially sturdy entity.
Mohammed Al-Amoudi and Stakeholder pursuits
Consistent with the directives of Preem’s esteemed helpful proprietor, Sheikh Mohammed Hussein Al-Amoudi, the board of administrators at CPH has assumed the vital accountability of enterprise a complete evaluate course of.
This complete evaluate intends to discover varied strategic options, with the potential sale of the corporate’s shares, and even the whole lot of the agency’s 100-percent stake, being among the many potentialities into consideration.
The board is steadfast of their dedication to conducting this evaluate meticulously and expeditiously, with due regard for the pursuits of numerous stakeholders.
The evaluate consists of reinforcing the general monetary stability of the company group and facilitating an orderly succession plan throughout the esteemed Al-Amoudi household.
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