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2014-09-16 19:10:00

SHELL HOPES & SELLS €1 BLN

SHELL HOPES & SELLS

London: Royal Dutch Shell has revived plans to dispose of its European liquefied petroleum gas business four years after a second failed attempt to sell the assets.

The Anglo-Dutch group has appointed Credit Suisse to advise on an auction, four people with knowledge of the decision said. The assets could be valued at as much as €1 billion (Dh4.75 billion), including debt, and are expected to attract bids from private equity groups as well as trade buyers.

Shell sought to offload the unit, the bulk of which consists of French company Butagaz, in 2004 but pulled the sale because offers fell short of its asking…

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Tags: SHELL, LPG, EUROPE, GAS
Chronicle:
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