Funds circle for spin-off gains from Shell deal
Article by Ashley Armstrong published 12 April by The Sunday Telegraph
Funds circle for spin-off gains from Shell deal
The world’s largest private equity firms are already circling the $30bn (£20bn) of assets that could be spun off by Shell following its acquisition of BG Group, the largest ever merger between two UK companies.
Warburg Pincus and Blackstone are understood to be gearing up to get involved in the biggest industry deal for the past two decades. Shell’s £47bn takeover of its smaller oil and gas rival is expected to be the catalyst for a wave of consolidation in the sector.
Rival private equity firms Carlyle, Riverstone, KKR and Apollo, which also have a track record in energy investments, are expected to take an interest in the pool of assets that will be put up for grabs by Shell.
Shell’s chief executive, Ben van Beurden, said that the combined company would make $30bn of asset sales “from 2016 to 2018 averaging $10bn per year”.
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