Competition Commission of Pakistan Approves Saudi group Asyad’s Acquisition of Shell Pakistan

The Saudi Group Asyad’s Holding’s acquisition of Shell Pakistan through UAE-Based Wafi Energy Limited was approved by the Competition Commission of Pakistan, stating that it would boost the country’s retail oil sector. The Shell Petroleum Company sold its 77.42 percent shareholding to Wafi Energy. Wafi Energy is the wholly owned affiliate of Asyad Holding Group, a fuel retailer in Saudi Arabia.