{"id":277508,"date":"2011-02-23T13:31:36","date_gmt":"2011-02-23T13:31:36","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/02\/23\/shell-sells-africaae%e2%84%a2s-operation-for-1bn\/"},"modified":"2011-02-23T13:31:36","modified_gmt":"2011-02-23T13:31:36","slug":"shell-sells-africaaes-operation-for-1bn","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/02\/23\/shell-sells-africaaes-operation-for-1bn\/","title":{"rendered":"Shell sells Africa\u00e2\u20ac\u2122s operation for $1bn"},"content":{"rendered":"

\n
Under the agreements with Vitol and Helios Investment, Shell would retain equity in two new joint venture companies to ensure continuous availability of its products, it said.<\/p>\n

\u201cThis is a good deal for our customers as well as for Shell,\u201d said Mark Williams, Royal Dutch Shell\u2019s Downstream Director in a statement.<\/p>\n

\u201cWe will significantly reduce our capital exposure in line with our strategy to concentrate our global downstream footprint.\u201d<\/p>\n

Shell said one joint venture – 80 percent owned by independent trader Vitol and Helios and 20 percent by Shell – will own and operate its existing oil products, distribution and retailing businesses in 14 African countries, with the potential to add five more.<\/p>\n

Another company, 50 percent owned by Shell and 50 percent by Vitol and Helios, will own Shell\u2019s existing lubricants blending plants in seven countries and manage macro-distributor relationships in each of the countries where the main venture operates.<\/p>\n

The three firms would work on securing necessary regulatory approvals, ahead of a phased completion of the proposed deal this year and the first half of 2012, Shell said.<\/p>\n

Source: Reuters.<\/p>\n<\/div>\n

Visit link:
\nShell sells Africa\u00e2\u20ac\u2122s operation for $1bn<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Under the agreements with Vitol and Helios Investment, Shell would retain equity in two new joint venture companies to ensure continuous availability of its products, it said. \u201cThis is a good deal for our customers as well as for Shell,\u201d said Mark Williams, Royal Dutch Shell\u2019s Downstream Director in a statement. \u201cWe will significantly reduce our capital exposure in line with our strategy to concentrate our global downstream footprint.\u201d Shell said one joint venture – 80 percent owned by independent trader Vitol and Helios and 20 percent by Shell – will own and operate its existing oil products, distribution and retailing businesses in 14 African countries, with the potential to add five more. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-277508","post","type-post","status-publish","format-standard"],"yoast_head":"\nShell sells Africa\u00e2\u20ac\u2122s operation for $1bn - 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will own and operate its existing oil products, distribution and retailing businesses in 14 African countries, with the potential to add five more.\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/23\/shell-sells-africaaes-operation-for-1bn\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/23\/shell-sells-africaaes-operation-for-1bn\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Shell sells Africa\u00e2\u20ac\u2122s operation for $1bn\",\"datePublished\":\"2011-02-23T13:31:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/23\/shell-sells-africaaes-operation-for-1bn\/\"},\"wordCount\":194,\"commentCount\":0,\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/02\/23\/shell-sells-africaaes-operation-for-1bn\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/23\/shell-sells-africaaes-operation-for-1bn\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/02\/23\/shell-sells-africaaes-operation-for-1bn\/\",\"name\":\"Shell sells Africa\u00e2\u20ac\u2122s operation for $1bn - 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