Shell announces the conditional sale of its LPG Business in Hong Kong and Macau to DCC Energy
Apr 05, 2017
[Hong Kong/ Macau – April 5, 2017] Shell has announced the conditional sale of its LPG business in Hong Kong and Macau to DCC Energy for a total enterprise value of US$150.3 million (approximately HK$1,165 million).
Daniel Ng, Country Chairman, Shell Hong Kong Limited said, “this sale is aligned with our strategic commitment to focus our business on areas where we can be most competitive. The LPG business will continue to operate under the ownership of DCC Energy, a global LPG operator who brings considerable experience to this market. The sale does not impact any of Shell’s other businesses and we remain committed to helping meet energy demand in Hong Kong and Macau.”
As part of the sale, Shell and DCC Energy will enter into a long-term brand licence agreement. LPG customers can expect to continue receiving high quality products and services, with the Shell brand remaining visible across the LPG business in Hong Kong and Macau.
All local Shell LPG employees affected will be given an option to transition to DCC Energy and the sale is expected to conclude in Q1 2018, subject to the receipt of relevant regulatory approvals.
External Relations Manager
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