Shell Nigeria assets get $2.85B offer, Glencore not among bidders

Royal Dutch Shell (RDS.A, RDS.B) has received a high bid of $2.85B from Nigerian firms Taleveras and Aiteo for the biggest of four Shell assets up for sale, but it is holding out while trying to encourage a team-up with an existing operator.

Shell is said to be concerned about the risk of selling to two exporters of crude and importers of gasoline that have no previous experience in running producing oil assets.

Shell is divesting its 30% stake in four Nigerian oil blocks, with Total (TOT) and Eni (E) also set to profit from their respective 10% and 5% stakes; Nigeria's state-owned oil company owns the remaining 55%.

Glencore (GLCNF, GLNCY) has said it was interested in the assets, but sources say it has since backed away.

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Comments (1)
  • Mike Serebrennik
    , contributor
    Comments (1238) | Send Message
    Good job, RDS. Sell these assets.
    28 Mar 2014, 12:46 PM Reply Like
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