Sunday Telegraph: Shell’s auction of its LPG business could raise £1.6bn
By Sylvia Pfeifer (Filed: 29/05/2005)
Shell, the Anglo-Dutch oil giant, is to auction its liquid petroleum gas (LPG) business and is hoping for bids of up to $3bn (£1.6bn).
It is understood that relevant information will be sent to prospective buyers in the next two weeks. Some of the world’s largest private equity players have expressed an interest in the business, which generates earnings of about $400m. Analysts believe Shell could get as much as $3bn for one of the largest players in the global LPG market.
Strong cash generation and good management make the business ideal for a private equity buyer. US buyout funds, including Kohlberg Kravis Roberts, Blackstone and Texas Pacific Group, are believed to be interested, along with their European counterparts Permira, BC Partners and CVC Capital Partners.
Repsol, the Spanish oil giant, is believed to be in talks with several private equity companies about teaming up to make a joint bid.
Shell announced a strategic review of the business last year after receiving an unsolicited approach. A successful sale would be a further significant stage in Shell’s plan to raise $10bn to $12bn though disposals. The plan was launched last year by Jeroen van der Veer, the chief executive, and is designed to help fund the oil giant’s £25bn investment in its oil reserves.
The company earlier this year sold Basell, its plastics business, for $5.7bn to the New York-based Access Industries and the Chatterjee Group. InterGen, its US power generating business, has also been sold for $1.75bn to a consortium of AIG Highstar Capital, a US investment fund, and Ontario Teachers’ Pension Plan, the Canadian pension fund. Shell launched the disposal programme after having to cut its proven oil and gas reserves.
The scandal led to the departure of Sir Philip Watts, the chairman, and a shake-up of its management structure.
Shareholders will next month vote on the merger of its two operating units, Shell Transport & Trading, the UK subsidiary, and Royal Dutch Petroleum, the Dutch arm.
The merger will create one of the largest companies in the FTSE100 with a market value of £115bn.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
