Report: Shell sells Australian service stations, other assets for $2.4B

|By:, SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) reportedly has sold its downstream Australian assets to Dutch-owned oil trader Vitol and the Abu Dhabi Investment Council for ~$2.4B.

Shell has been planning to sell the business, which includes a refinery, import terminals and 900 service stations, as part of new CEO Ben Van Beurden's worldwide divestment program.

The sale would mean Australia's Macquarie Group and partner Glencore Xstrata (GLCNF], GLNCY) were not successful in their efforts to buy the assets.