Shell Pakistan Rebrands as Wafi Energy Pakistan Following Acquisition

Shell Pakistan Limited has officially been renamed Wafi Energy Pakistan Limited after the completion of its acquisition by Wafi Energy Holding Limited. The transition (name change) was finalized on January 13, 2025, with the Securities and Exchange Commission of Pakistan (SECP) issuing a Certificate of Incorporation confirming the name change. However, as per the official statement, the Shell brand will remain in Pakistan through retail and brand licensing agreements, with Wafi Energy as the exclusive brand licensee. The acquisition process which was initiated through a Share Purchase Agreement dated October 31, 2023, saw Wafi Energy Holding Limited acquire 87.78 percent of Shell Pakistan’s issued share capital, equivalent to 187,866,141 ordinary shares. The deal also included a Mandatory Tender Offer extended to the remaining shareholders, in compliance with the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. Following the acquisition, a resolution was passed by the company’s members on November 27, 2024, to formally change its name.