ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of 50 per cent shareholding in Total Parco Pakistan Ltd (TPPL) by Aquashore SA, a company operating under Switzerland`s Gunvor Group.

Under the terms of the sale and purchase agreement, these shares will be transferred from TotalEnergies Marketing Services to Aquashore SA.

This acquisition marks the latest in a series of highprofile transactions in the petroleum sector, recently approved by the CCP.

Gunvor Group, one of the world`s premier commodities trading companies, brings vast experience in trading and logistics. Through this transaction, Gunvor aims to enhance operational logistics, safety standards, and competitive solutions that bridge global energy supply and demand.

TPPL operates an extensive network of retail fuel stations and provides a diverse range of essential products, including automotive and industrial lubricants.