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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.
Comments (1)
  • Mike Serebrennik
    , contributor
    Comments (791) | Send Message
     
    Good job, RDS. Sell these assets.
    28 Mar, 12:46 PM Reply Like
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