ISLAMABAD (PEN) : Asyad Holding Group, a Saudi Arabian business entity, has successfully acquired 77.42% of the shareholdings and operational control of Shell Pakistan Limited, according to the Competition Commission of Pakistan (CCP).
The decision to sell Shell Petroleum Company Limited’s (SPCo) stake in Shell Pakistan Limited (SPL) was formalized during a 2023 Board of Directors meeting. The acquisition was executed through Wafi Energy Holding Limited, a company based in the United Arab Emirates (UAE).
The Competition Commission of Pakistan has endorsed this acquisition under the Competition Act of 2010, emphasizing its potential to strengthen Pakistan’s retail oil sector.
Shell Pakistan Limited, listed on the Pakistan Stock Exchange, maintains a significant presence in Pakistan’s motor fuel and lubricant retail markets, operating over 600 mobility sites, 10 fuel terminals, and a lubricant oil blending plant. Additionally, Shell Pakistan holds a 26% stake in the Pak-Arab Pipeline Company Limited.
Wafi Energy LLC, a wholly-owned subsidiary of Asyad Holding Group, specializes in managing and operating fuel stations primarily in Saudi Arabia, highlighting their expertise and experience in the energy sector.
This acquisition marks a strategic move aimed at enhancing Shell Pakistan’s operations and expanding its footprint in the local energy market.
