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Report: Shell's Gabon sale to be finalized this month

Jan. 17, 2017 11:38 AM ETShell plc (SHEL) StockSHELBy: Carl Surran, SA News Editor8 Comments
  • Royal Dutch Shell (RDS.A, RDS.B) reportedly will sign a deal to sell its ~$700M in Gabon oil assets to Carlyle Group this month, as unions threaten further strike action.
  • Shell Gabon's staff of ~400 began striking last week and are threatening to toughen their stance, saying they should be paid damages even though the employees are expected to be retained by the company's new owners.
  • The ongoing strike already has led to production cuts of 30%-50%, according to the union.

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