Shell is ramping up efforts to sell assets after spending as much as $45 billion on projects and acquisitions in 2013
Vitol Group mulls bid for Royal Dutch Shell’s Australian downstream assets-sources
by Nicel Jane Avellana: 8 Jan 2014
Two sources told Bloomberg that Vitol Group is thinking of making an offer for some of the Australian downstream operations of Royal Dutch Shell Plc. Based in Geneva, Vitol is the biggest independent oil trader in the world.
The people, who spoke on the condition of anonymity because the details are confidential, said that Vitol is evaluating assets like storage terminals, filling stations and an oil refinery located in Geelong. Two other sources have also told Bloomberg that buyout company TPG Capital and another group headed by Macquarie Group Ltd are thinking of bidding for the assets.
Shell is ramping up efforts to sell assets after spending as much as $45 billion on projects and acquisitions in 2013, the report said.
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