In a significant development, a restructuring in the capital ownership of WAFI Energy LLC has led to the emergence of a new foreign entity named “Wafi Energy Holding Limited” to spearhead the acquisition of 77.42% shares of Shell Pakistan Limited (PSX: SHEL), with Asyad Holding acting in concert.

This transformation was disclosed through the latest filing on the Pakistan Stock Exchange (PSX) by Arif Habib Limited (PSX: AHL), the manager overseeing the offer.

Consequently, AHL has formally submitted an addendum on behalf of Wafi Energy Holding Limited, signaling the transition in the acquiring entity for the acquisition of the target company, Shell Pakistan Limited.

It’s worth recalling that on October 31, 2023, WAFI Energy LLC initially announced its intention to acquire up to 77.42% shares of SHEL, setting the stage for this significant corporate maneuver.

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