Saudi’s Asyad Holding, via UAE’s Wafi Energy Holding Limited, acquired 77.42% ownership and control of Shell Pakistan Limited.
The Competition Commission of Pakistan (CCP) approved the acquisition under Section 11 of the Competition Act, 2010. This move aims to enhance Pakistan’s retail oil sector.
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Shell Pakistan Limited, listed on the Pakistan Stock Exchange, plays a significant role in retailing motor fuels and lubricants nationwide. Wafi Energy LLC, a wholly-owned affiliate of Asyad Holding Group, specializes in managing fuel stations in Saudi Arabia. Asyad Holding established Wafi Energy Holding Limited specifically for investments in Pakistan.
The CCP’s Phase I assessment identified ‘Retail Fuel, Vehicle Lubricants, and Industrial Lubricants’ as relevant markets. Shell Pakistan holds substantial shares in these markets, which will remain unchanged post-acquisition.
The analysis confirmed that Wafi Energy Holding Limited will not achieve a dominant market position in these sectors even after taking direct control of Shell Pakistan. Therefore, the CCP swiftly authorized the acquisition under Section 31 of the Competition Act, 2010.
CCP Chairman Dr. Kabir Ahmed Sidhu emphasized that this acquisition is expected to enhance competition and service standards in Pakistan’s retail fuel supply chain, contributing significantly to market growth.
