PARIS: Oil major Royal Dutch Shell PLC said Monday it has now sold its Butagaz LPG business in France to DCC Energy for 464 million euros ($512.78 million), following the approach made in May.
However, its other businesses in France–aviation, commercial fleet, lubricants, retail, and bitumen–aren’t impacted by this transaction, the company said.
Separately, Shell said it has sold its 75% interest in Tongyi Lubricants in China to Huo’s Group and The Carlyle Group, following regulatory approval. The commercial terms of the agreement will remain confidential it said.
“Both divestments are consistent with Shell’s strategy to concentrate its downstream footprint on assets and markets where it can be most competitive, and to divest its LPG businesses worldwide,” the company said.
