Royal Dutch Shell Sells Butagaz LPG Business in France for EUR464 Million
November 02 2015 - 2:49AM
Dow Jones News
By Ian Walker
LONDON--Oil major Royal Dutch Shell PLC (RDSB.LN) said Monday it
has now sold its Butagaz LPG business in France to DCC Energy for
464 million euros ($512.78 million), following the approach made in
May.
However, its other businesses in France--aviation, commercial
fleet, lubricants, retail, and bitumen--aren't impacted by this
transaction, the company said.
Separately, Shell said it has sold its 75% interest in Tongyi
Lubricants in China to Huo's Group and The Carlyle Group, following
regulatory approval. The commercial terms of the agreement will
remain confidential it said.
"Both divestments are consistent with Shell's strategy to
concentrate its downstream footprint on assets and markets where it
can be most competitive, and to divest its LPG businesses
worldwide," the company said.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
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(END) Dow Jones Newswires
November 02, 2015 02:34 ET (07:34 GMT)
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