Shell has officially finalised the deal to sell 100-percent of its equity interest in Shell Downstream South Africa to Abu Dhabi’s state-owned energy giant, ADNOC Distribution, for approximately 16.2-billion-rand. The agreement includes 580 company- and dealer-owned fuel stations, alongside Shell’s wholesale fuel, aviation, and lubricants operations. As part of the deal, ADNOC Distribution will sell a 28-percent stake to a local BEE partner. The iconic Shell emblem will be retained. Shell has emphasised that there will be no job losses, and everyday operations, including the convenience stores, will continue uninterrupted.
Shell officially finalises deal to sell its downstream operations in South Africa