MOSCOW (MRC) -- Shell has signed an agreement with Viva Energy Australia Pty Ltd for the sale of Shell Aviation Australia Pty Ltd for a total transaction value of approximately USD250 million, as per Hydrocarbonprocessing.
It follows the sale of Shell’s other downstream activities in the country to Viva Energy in 2014.
The Shell brand will remain visible across the aviation refueling network in the country through a trademark licensing agreement as part of the sale. Viva Energy will continue to supply aviation customers with Shell branded fuel under existing contracts. The transaction is expected to complete by mid-2017, subject to regulatory approval. Employees of Shell Aviation Australia will remain employed by the company as it transfers to new ownership.
Viva Energy already sells Shell branded Fuels and Lubricants under license in Australia and will continue to do so, including for aviation, after the sale completes.
Shell’s upstream operations in Australia, which include exploration, production and gas commercialization, are not impacted by this announcement. Shell remains one of Australia’s largest private sector investors.
As MRC informed before, in March 2016, Royal Dutch Shell Plc lined up assets for a USD30 billion divestment program that may extend from the U.S. and Trinidad to India following its record takeover of BG Group Plc.
Thus, now Royal Dutch Shell is evaluating whether to sell part of its assets in Argentina. According to Executive President Ben van Beurden, refineries, transporting and distribution assets in the country could be put up for sale as part of a massive global disvestment programme worth an estimate USD30 billion. The move amounts to a massive revision of the firm’s "downstream” services, van Beurden said during a conference in New York in September, 2016.
Royal Dutch Shell, commonly known as Shell, is an Anglo–Dutch multinational oil and gas company headquartered in the Netherlands and incorporated in the United Kingdom.Created by the merger of Royal Dutch Petroleum and UK-based Shell Transport & Trading, it is the fourth largest company in the world as of 2014, in terms of revenue, and one of the six oil and gas "supermajors".
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