Shell sells Asian liquefied petroleum gas business for $150M

|By:, SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) agrees to sell its liquefied petroleum gas business in Hong Kong and Macau to Ireland's DCC Energy (OTC:DCCPF) for HK$1.17B (US$150M).

Shell says it will enter a long-term brand license agreement with DCC that will ensure its brand remains visible across the Asian LPG business.

The sale contributes to Shell's effort to make disposals of $30B by year-end 2018 following the $54B acquisition of BG Group in early 2016.