{"id":87626,"date":"2024-07-08T00:00:00","date_gmt":"2024-07-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/08\/pakistans-competition-authority-okays-asyads-acquisition-of-shell-pakistan\/"},"modified":"2024-07-08T00:00:00","modified_gmt":"2024-07-08T00:00:00","slug":"pakistans-competition-authority-okays-asyads-acquisition-of-shell-pakistan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/08\/pakistans-competition-authority-okays-asyads-acquisition-of-shell-pakistan\/","title":{"rendered":"Pakistan\u2019s competition authority okays Asyad\u2019s acquisition of Shell Pakistan"},"content":{"rendered":"

<\/strong>Asyad\u2019s acquisition of Shell Pakistan gets go-ahead from competition authority: <\/strong>The Competition Commission of Pakistan approved Saudi fuel retailer Asyad Holding<\/a> \u2019s acquisition of Shell\u2019s assets in Pakistan, according to a statement by the authority<\/a>. The transaction will see Asyad taking a 77.4% stake in Shell Pakistan through its subsidiary Wafi Energy<\/a>, according to the statement. The authority said its analysis of the transaction confirmed that Wafi Energy \u201cwill not gain dominant position in the relevant markets even after attaining the direct control of Shell Pakistan.\u201d<\/p>\n

Background:<\/strong> Plans for the sale of Shell's assets in Pakistan <\/span>were first made in June<\/a> last year under the global energy giant\u2019s plan to \u201chigh-grade its mobility network.\u201d It later agreed in November to sell its majority interest in Shell Pakistan to Asyad\u2019s Wafi Energy. The sale is set to close by 4Q 2024, subject to regulatory approvals.<\/span><\/p>\n

About Shell Pakistan: <\/strong>The company is listed on Pakistan\u2019s stock exchange. It owns and operates some 600 mobility sites, ten fuel terminals, and a lubricant oil blending plant. Shell Pakistan also holds a 26% stake in oil transportation company Pak-Arab Pipeline<\/a>.<\/p>\n

Asyad and Shell are acquainted: <\/strong>Asyad Group and Shell Brands International inked a trademark licensing agreement last year<\/a> to enter the local mobility market, allowing Asyad to open gas stations across the Kingdom under the Shell brand.<\/p>\n","protected":false},"excerpt":{"rendered":"

The value of the transaction was not disclosed<\/p>\n","protected":false},"author":1,"featured_media":87627,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[10,14],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam-ksa","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"a3440b61-9f2c-470a-b654-71c73ced46f4","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/543.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Pakistan\u2019s competition authority okays Asyad\u2019s acquisition of Shell Pakistan","related_issue":[87619],"teaser":"The value of the transaction was not disclosed","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.e21536a7-1e6f-4f1a-a543-c6ce4ace7b9a.mp3"},"yoast_head":"\nPakistan\u2019s competition authority okays Asyad\u2019s acquisition of Shell Pakistan - 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