Shell sells off Hong Kong, Macau LPG unit for $150 million

Shell sells off Hong Kong, Macau LPG unit for $150 million

Royal Dutch Shell has completed the sale of the first phase of its Hong Kong and Macau LPG marketing business to DCC LPG on 31st December 2017.

Shell said in a statement that continues to operate the LPG plant in Hong Kong, which is part of the second phase of the transaction and is subject to conditions including regulatory approvals.

The sale of Shell’s entire LPG business in Hong Kong and Macau was announced on 5 April 2017 for an agreed total transaction value of approximately US$ 150 million. As part of the sale, Shell branded LPG products will continue to be available in Hong Kong and Macau via a long-term brand license agreement with DCC LPG.

The sale does not impact any of Shell’s other businesses and Shell remains committed to helping meet growing energy demand in Hong Kong and Macau.