A&O Shearman advises Gunvor Group on acquisition of TotalEnergies Group's downstream businesses in Pakistan

TPPL is a 50/50 joint venture between Total and local refiner Pak-Arab Refinery Limited (Parco). The TPPL business is comprised of a retail network of over 800 service stations and related assets. Under the terms of the deal, TPPL will continue operating its fuel marketing business under the existing ‘TOTAL PARCO’ brand. The deal remains subject to regulatory approvals and other closing conditions.

The overall transaction advice was led by London-based partners Oliver Bacon, Nigel Parker and Lydia Challen, supported by a team of Counsels, Senior Associates, Associates and Trainees.

Oliver Bacon said: “We are delighted to have supported Gunvor on this strategic investment and had the opportunity to showcase our downstream and midstream fuels expertise on this complex transaction.”