ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of a 50% shareholding in Total Parco Pakistan Ltd (TPPL) by Aquashore SA, a subsidiary of Switzerland-based Gunvor Group.
The stake will be transferred from TotalEnergies Marketing Services under the terms of the sale and purchase agreement. This strategic move is the latest in a series of high-profile transactions in Pakistan’s petroleum sector, recently greenlit by the CCP.
Gunvor Group, a leading global commodities trading firm, aims to leverage its extensive expertise in trading and logistics to enhance TPPL’s operational efficiency. The acquisition is expected to improve logistics, elevate safety standards, and provide competitive solutions to meet global energy supply and demand challenges.
TPPL operates a vast network of retail fuel stations and offers a diverse portfolio of automotive and industrial lubricants, contributing significantly to Pakistan’s energy landscape.
Story by Kalbe Ali
