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GAS Board Approves Liquidation
Arabian Gas Services Company has approved the initiation of an optional liquidation process for its affiliate, Elster Instruments Saudi Arabia Limited, in which it holds a 40% stake. The decision came after a thorough assessment of the affiliate's situation, and an agreement was reached with the other partner to cease operations and liquidate assets, with the aim of enhancing operational efficiency and reorienting resources in line with the long-term strategy. It is expected that financial compensation for the liquidation will not have a material impact on the current financial statements, following the completion of the necessary legal and regulatory procedures.
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