Sunday Telegraph: Shell’s auction of its LPG business could raise £1.6bn
By Sylvia Pfeifer (Filed: 29/05/2005)
Shell, the Anglo-Dutch oil giant, is to auction its liquid petroleum gas (LPG) business and is hoping for bids of up to $3bn (£1.6bn).
It is understood that relevant information will be sent to prospective buyers in the next two weeks. Some of the world’s largest private equity players have expressed an interest in the business, which generates earnings of about $400m. Analysts believe Shell could get as much as $3bn for one of the largest players in the global LPG market.