LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSA.LN) Monday agreed to sell a majority stake in much of its African downstream to Vitol Holding BV and Helios Investment Partners for around $1 billion, as it trims non-core assets.
Oil-products businesses are generally considered of less importance to oil majors than oil and gas exploration and production assets.
The Anglo-Dutch oil giant will sell 80% in fuels and lubricants assets in 14 African countries to oil trading giant Vitol and Africa-focused private investment firm Helios and keep the remaining 20%.