Cnergyico PK Limited (CNERGY): Likely acquisition of Puma Energy & its implications – By Sherman Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">According to media reports, CNERGY/BYCO is in its final talks to acquire majority stake of 57% in Puma Energy (previously Admore). CNERGY has already intimated this matter in its notification to stock exchange in December 2021 stating that company is in negotiation with the Puma Energy.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Though CNERGY has not yet announced the outcome of the negotiation, there are media reports that CNERGY is about to close deal at around Rs4bn for 57% stake in Puma Energy.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Puma Energy has total outlets of around 542 out of which 80% are located in northern areas. On the other hand CNERGY has total...