Shell Announces Sale to DCC Energy
Shell has announced the conditional sale of its Liquefied Petroleum Gas (LPG) business in Hong Kong and Macau to DCC Energy for a total enterprise value of US$ 150.3 million (approximately HK$ 1,165 million). John Abbott, Shell Downstream Director, said: “This sale supports Shell’s strategic commitment to focus Downstream activities on areas where we can be most competitive. Hong…
DCC to buy ExxonMobil's Norwegian Petrol Stations
London-listed DCC Plc said it would buy the retail petrol station network of ExxonMobil's Norwegian unit, Esso Norge AS, for 2.43 billion Norwegian crowns ($293.38 million). DCC, whose activities range from oil distribution to waste management, said the total consideration, along with the value of stock in tank at the date of acquisition, would be paid in cash. Dublin-based DCC…
DCC Energy Makes Offer for Shell's Butagaz LPG Business
Shell has announced that it has received a- binding offer of €464m million ($529 million) from DCC Energy for its Butagaz Liquefied Petroleum Gas (LPG) business in France. In reply to this offer, DCC Energy has been granted exclusivity while Shell consults with the staff councils of both Butagaz and Shell France. The transaction is also subject to obtaining regulatory approvals following these consultations. It is expected to complete in 2015.
