Seeking Alpha

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

  • 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.
Comments (2)
  • smurf
    , contributor
    Comments (4121) | Send Message
     
    Looks like Shell CEO means what he says about getting leaner.
    19 Feb, 11:33 AM Reply Like
  • arthur_bishop1972
    , contributor
    Comments (2400) | Send Message
     
    It does, and it may be a coincidence (I don't think so tho), but pps heading back up recently.

     

    Somebody with deep pockets is liking what's going on with RDS.
    19 Feb, 11:42 AM Reply Like
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