Shell Gets $2.6B For Bulk Of Australian Downstream Assets

Law360, New York (February 21, 2014, 1:12 PM EST) -- Vitol Group will buy most of Royal Dutch Shell PLC's Australian downstream businesses for about AU$2.9 billion ($2.6 billion), the companies said Friday, in a deal designed to help Vitol become a major player in the Australian oil market.

The deal, which Law360 reported was going down earlier this week, is expected to close at some point this year. It sees Shell selling its Geelong Refinery and 870-site retail business, along with its bulk fuels, bitumen, chemicals and part of its lubricants businesses in Australia to...
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