UAE's ADNOC may sell more of distribution business: sources | Reuters:
"Abu Dhabi National Oil Company is considering selling another 10 percent stake in its fuel distribution business, which listed in an initial public offering last year, but the timing is uncertain, three sources familiar with the matter said.
ADNOC listed 10 percent of ADNOC Distribution ADNO.AD in December last year, but the sale of another 10 percent would help ADNOC in its aim of joining the MSCI Emerging Markets Index and attract more international investors, two of the sources said.
ADNOC Distribution, the largest operator of retail fuel service stations and convenience stores in the United Arab Emirates, is seeking a minimum free float of 15 percent to improve its chances of joining the index, one of the sources said. "
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