Shell has found a buyer for a chain of Argentine gas stations worth more than $1billion, a news report said.
Shell put the 630 Argentine gas stations up for sale as part of a £23.5billion divestment plan intended to balance the books in the wake of its takeover of BG Group.
Brazil’s Raizen Energia, a subsidiary of Shell, has outbid rivals including Argentina’s YPF, Chile’s Quinenco and China’s CNPC, Reuters reported, citing unidentified sources.
Shell and Cosan each own 50% of Raizen, which controls Brazil’s second largest chain of gas stations.
Shell said it would not comment on potential deals. Raízen also declined to comment.
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.