Islamabad: The Competition Commission of Pakistan (CCP) has approved a significant transaction allowing the Swiss-based Ganvor Group to acquire a 50% stake in Total Parco Pakistan Limited.
Under the agreement, Total Energies Marketing Limited will transfer its 50% ownership in Total Parco to Aquashore SA, a subsidiary of Ganvor Group. This marks Pakistan's third major petroleum sector deal within the past year.
Earlier, Saudi Aramco acquired a 40% equity stake in Go Petroleum, followed by Wafi Energy Holding Limited’s purchase of a 77.42% controlling interest in Shell Pakistan Limited. These developments signal increasing interest from global players in Pakistan’s energy sector.
Ganvor Group, a leading name in global commodity trading, brings extensive expertise in trading and logistics. This strategic acquisition is expected to enhance Total Parco’s operations, which currently boasts a vast network of retail fuel stations nationwide.
The CCP has identified the relevant market for this transaction as retail fuel, automotive lubricants, and industrial lubricants. The deal highlights growing foreign investment in Pakistan’s energy and automotive industries, showcasing the sector's potential for international partnerships.
