Islamabad, November 18, 2024 – The Competition Commission of Pakistan (CCP) has approved the acquisition of a 50% stake in Total Parco Pakistan Limited (TPPL) by Aquashore SA, a Switzerland-based company operating under the Gunvor Group. This strategic move further underscores the growing global interest in Pakistan’s dynamic energy sector.
Under the terms of the agreement, Aquashore SA will acquire the shares from Total Energies Marketing Services. The CCP’s green light for this transaction follows a series of recent high-profile deals in the petroleum sector, signaling increasing activity by international energy giants in Pakistan.
A Year of Notable Transactions
Earlier this year, Saudi Aramco secured a 40% equity stake in GO Petroleum, while another Saudi entity, Wafi Energy Holding Limited, acquired a controlling 77.42% share in Shell Pakistan Limited. These transactions reflect Pakistan’s expanding appeal as a lucrative market for foreign investment in energy and related sectors.
Gunvor Group’s Strategic Vision
Gunvor Group, a global leader in commodities trading, brings significant expertise in trading and logistics. Through this acquisition, Gunvor aims to enhance operational efficiency, elevate safety standards, and deliver competitive energy solutions tailored to bridge global supply and demand gaps.
Aquashore SA’s integration into Pakistan’s energy landscape positions it as a key player, leveraging Gunvor’s global experience to meet the country’s growing demand for reliable and efficient energy services.
Total Parco Pakistan’s Market Presence
TPPL operates a vast network of retail fuel stations and provides a range of essential products, including automotive and industrial lubricants. The CCP identified the relevant product markets for this acquisition as Retail Fuel, Automotive Lubricants, and Industrial Lubricants, emphasizing the strategic importance of this transaction for these sectors.
Implications for Pakistan’s Energy Sector
The acquisition signals a positive trend for foreign investment, enhancing competition and operational capabilities in Pakistan’s energy and automotive industries. It is expected to bring improved supply-chain reliability, better services, and a more robust market landscape.
Aquashore SA’s entry into Pakistan strengthens the company’s global footprint and aligns with Pakistan’s increasing energy needs. It also reinforces the country’s potential as a hub for international energy partnerships.
The CCP’s approval reflects its commitment to fostering a competitive and investment-friendly environment in Pakistan, paving the way for sustainable growth in key economic sectors.
