KARACHI- OPI Gas Private Limited has formally acquired the Shell Petroleum Companys majority stake of 67.91 per cent in Shell Gas LPG Pakistan Limited. The share purchase agreement between OPI Gas and the Shell Petroleum Company was signed in June of this year, after a bidding process from which OPI Gas emerged as a successful bidder. The share transfer was made officially in the board meeting of Shell Gas LPG Pakistan, which was held at Hashoo Group Karachi office here on Wednesday. The share transfer has taken place after completing all regulatory and corporate approvals, including a public offer under the listed companies (substantial acquisition of voting shares and takeovers) ordinance 2002 and regulations made there under. We are extremely pleased to have completed this transaction as through this acquisition, we have increased our footprint in the LPG marketing business in Pakistan. Given the rising demand for LPG in the country, we are confident that this acquisition will help maximize value for shareholders. Going forward, we will be a stronger company with excellent growth prospects, said Khalid Mumtaz Malik, Chief Executive of OPI Gas. For OPI Gas, acquisition of Shell Gas LPG Pakistan was the perfect choice for horizontal integration. We believe that Shell Gas LPG Pakistan has in place a high quality team of professionals, with a rich experience of working in Pakistans LPG marketing industry. This will allow OPI Gas to maximize synergies from this acquisition, he added.