Shell to sell Australian aviation fuels unit to Viva Energy
by Angela Macdonald-Smith: 19 December 2016
Royal Dutch Shell has struck a $US250 million ($343 million) deal to sell its local aviation fuels division to Viva Energy in a further slimming down of its downstream operations in Australia.
The sale follows the oil giant’s $2.9 billion divestment of its other refining and fuels activities to Viva in 2014 and comes amid heightened speculation that Shell is getting set to offload its remaining stake in Woodside Petroleum.
The deal, expected to formally close by md-2017, will see the Shell brand still used for the aviation refuelling business under a licensing deal similar to the arrangement Viva has to use the logo for its petrol retailing business. Regulatory approvals still need to be secured.