Shell Progresses Hong Kong, Macau LPG Business Sale
Royal Dutch Shell plc announced Wednesday that it has completed the sale of the first phase of its Hong Kong and Macau LPG marketing business to DCC LPG.
Shell said it continues to operate the LPG plant in Hong Kong, which is part of the second phase of the transaction and subject to conditions including regulatory approvals.
The sale of Shell’s entire LPG business in Hong Kong and Macau was announced on April 5, 2017 for an agreed total transaction value of approximately $150 million.
Following the sale, Shell branded LPG products will continue to be available in Hong Kong and Macau via a long-term brand license agreement with DCC LPG. The sale does not impact any of Shell’s other businesses and Shell said it remains committed to helping meet growing energy demand in Hong Kong and Macau.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.