SEPC Ltd has received in-principle approval to expand into petroleum trading in the UAE through the proposed 100% acquisition of Wintality Petroleum FZE, a company engaged in the import, export and global trading of refined petroleum products.

As part of the transaction, SEPC’s wholly owned UAE subsidiary, SEPC FZE, Sharjah, will restructure its share capital and reserves to facilitate the acquisition through a non-cash share-swap arrangement. Following the restructuring, SEPC Ltd is expected to retain a 95.75% stake in the UAE subsidiary.

Wintality Petroleum will become a step-down subsidiary of SEPC Ltd upon completion of the proposed transaction and receipt of the necessary approvals.

The company said the deal will allow it to establish an operating platform in the refined petroleum trading business without requiring any cash outflow from the parent company, while leveraging value already created within its UAE subsidiary.

The move marks a strategic expansion of SEPC’s international operations beyond its traditional EPC business and is aimed at strengthening its presence in the UAE’s petroleum trading market.