In a significant development, Saudi Arabia’s Asyad Holding Group has acquired a 77.42% stake in Shell Pakistan Limited, according to the Competition Commission of Pakistan (CCP). The acquisition was made through Wafi Energy Holding Limited, a United Arab Emirates (UAE)-based firm.
The deal follows an announcement by the Board of Directors of Shell Pakistan Limited (SPL) in 2023 to sell its shareholding in the company to its parent firm, Shell Petroleum Company Limited (SPCo). The acquisition has been approved by the CCP under the Competition Act, 2010, and is expected to boost the retail oil sector in Pakistan.
Shell Pakistan Limited, listed on the Pakistan Stock Exchange, has a significant presence in the retail supply of motor fuels and lubricants across the country, with over 600 mobility sites, 10 fuel terminals, a lubricant oil blending plant, and a 26% shareholding in Pak-Arab Pipeline Company Limited.
Asyad Holding Group, through its affiliate Wafi Energy LLC, specializes in the management and operation of fuel stations in Saudi Arabia. The acquisition marks a significant expansion of the group’s operations in Pakistan’s retail oil sector.
The deal is expected to have a positive impact on the industry, with the combined expertise and resources of Asyad Holding Group and Shell Pakistan Limited set to enhance the quality and availability of fuel products in Pakistan.
