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TPG circles in $3b sale of Shell petrol stations

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Screen Shot 2014-01-09 at 09.32.08Angela Macdonald-Smith, James Chessell, Sarah Thompson:

January 8, 2014

Private equity firm TPG is in the final stages of a $3 billion auction for Royal Dutch Shell’s refining and retail business in Australia, along with a consortium involving Macquarie Group.

There is also speculation a third party – potentially an Asian energy business – is also vying for the Shell assets, including its refinery in Geelong, several import terminals and a network of 900 branded service stations.

It is believed Shell’s retail partner in Australia, Coles, is monitoring the negotiations.

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