Vitol in talks to buy Shell’s downstream businesses in Africa

21 July 2010 17:54  [Source: ICIS news]

TORONTO (ICIS news)--Vitol, in partnership with investment firm Helios, is in exclusive talks to acquire Shell’s downstream businesses in 19 African countries, the independent energy trading firm said on Wednesday.

The deal would, if realised, include Shell’s downstream businesses in Morocco, Tunisia, Egypt, Cote d’Ivoire, Burkina Faso, Ghana, Togo, Senegal, Mali, Guinea, Cape Verde, Kenya, Uganda, Tanzania, Botswana, Namibia, Madagascar, Mauritius and La Reunion, Vitol said.

The targeted businesses, which employed a staff of 2,500, included 1,300 retail sites and 1.2m cubic metres of terminal storage, it said.

Not included were Shell’s lubricants business in Egypt and its liquefied petroleum business in Botswana, Vitol said.

In related news, Shell said this month it was continuing to look for buyers for refineries in Germany and the UK.

In Canada, Shell said this week it may sell its refinery in Montreal to Israel’s Delek, after saying earlier it planned to close the facility and convert it into a fuel terminal.

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By: Stefan Baumgarten
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