Shell Pakistan Rebranded to Wafi Energy Pakistan Following Acquisition
Shell Pakistan Limited has officially changed its name to Wafi Energy Pakistan Limited after being acquired by Wafi Energy Holding Limited. This marks a significant shift for the company, as it enters a new phase with a different identity under new ownership.
The acquisition saw Wafi Energy Holding Limited, a Saudi-based affiliate of the Asyad Group, purchasing 87.78% of Shell Pakistan’s shares, totaling 187,866,141 ordinary shares. The agreement, made official through a Share Purchase Agreement (SPA) on October 31, 2023, was followed by a mandatory tender offer to Shell’s remaining shareholders in accordance with the Securities Act, 2015, and the Takeover Regulations of 2017.
On November 27, 2024, the company’s members voted to approve the name change, which was later finalized when the Securities and Exchange Commission of Pakistan (SECP) issued a new Certificate of Incorporation on January 13, 2025. This officially marked the transition to Wafi Energy Pakistan Limited.
While the name and ownership have changed, the Shell brand will still be present in Pakistan. Wafi Energy Pakistan Limited will continue to operate as the exclusive licensee of the Shell brand through a licensing agreement, ensuring the familiar logo remains visible at retail locations.
This acquisition represents a major development in the energy sector in Pakistan, with Wafi Energy Pakistan now taking the reins under new ownership while continuing the legacy of the Shell brand.