1 November 2015
DETAILS
today announced
the completion of two divestments
from its global downstream portfolio.
1.
In France, the company has completed
the sale of its
Butagaz LPG business to DCC Energy for €464 million.
The transaction is a share sale and all Butagaz staff,
together with the Butagaz brand,
have passed to DCC Energy.
The completion follows the announcement in May 2015
that Shell had received a binding offer from DCC
and follows consultation with the staff councils of Butagaz
and Shell France, as well as regulatory approval.
Shell’s other businesses in France –
aviation, commercial fleet, lubricants, retail, and bitumen
– are not impacted by this transaction.
2.
Separately, Shell has also completed
the sale of its 75% interest in
Tongyi Lubricants in China
to Huo's Group and The Carlyle Group,
following regulatory approval.
The commercial terms of the agreement
will remain confidential.
Both divestments are consistent with
* Shell’s strategy to concentrate its downstream footprint
on assets and markets where it can be most competitive, and
* to divest its LPG businesses worldwide.
Enquiries
Shell International Media Relations: +44 20 7934 5550
Shell China Media Relations: +86 106 505 4501 ext.2685
Shell France External Relations: +33 157 60 61 43
WWW.CHEMWINFO.COM BY KHUN PHICHAI
