Shell agrees to sell its French LPG business
Posted on May 19, 2015 | By Jordan Blum
Shell agrees to sell its French LPG business
Royal Dutch Shell has agreed to sell its liquefied petroleum gas subsidiary in France for more about $520 million as the Dutch energy supermajor continues its efforts to sell off its LPG businesses worldwide.
Shell, which is increasingly focusing on oil and liquefied natural gas with its planned acquisition of BG Group, said it is in exclusive talks to sell its subsidiary, France-based Butagaz LPG, to Ireland-based DCC Group, which largely focuses on LPG distribution throughout Europe.
Shell said it has a binding offer of 464 euros, or roughly $520 million, and that the detail should be finalized this year.
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