Islamabad: The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of 50 percent shares of M/s. Total Parco Pakistan Limited (TPPL) by M/s. Aquashore SA, a company operating within the Swiss Gunvor Group. Under the terms of the purchase and sale agreement, these shares will be transferred from M/s. TotalEnergies Marketing Services for Aquashore SA.
According to details shared by CCP, in the petroleum sector, this acquisition represents the latest in a series of high-profile transactions recently approved by CCP. Earlier this year, Saudi Aramco acquired a 40% stake in GO Petroleum, while another Saudi group, Wafi Energy Holding Limited, acquired a 77.42% stake and control of Shell Pakistan Limited. These deals highlight the growing interest of global energy giants in Pakistan’s dynamic energy sector.
Gunvor Group, one of the world’s leading commodity trading companies, has extensive experience in trade and logistics. Through this transaction, Gunvor aims to enhance operational logistics, safety standards and competitive solutions that connect global energy supply and demand. Gunvor’s extensive experience in commodity trading and logistics provides Aqusahore SA a strategic advantage, and aligns well with Pakistan’s growing demand for efficient and safe energy solutions.
TPPL operates an extensive network of retail fuel stations and provides a variety of essential products, including automotive and industrial lubricants. CCP has identified the product markets relevant to this transaction as “retail fuels, automotive lubricants, and industrial lubricants.”
As Aquashore SA prepares to expand its operations in Pakistan, this acquisition strengthens its global business footprint. It also indicates a positive trend of foreign investment in Pakistan’s energy and automotive sectors, paving the way for enhanced services, improved supply chain reliability, and a more competitive market landscape.