Shell has signed an agreement with Viva Energy Australia Pty Ltd (“Viva Energy”) for the sale of Shell Aviation Australia Pty Ltd for a total transaction value of approximately $250million.
It follows the sale of Shell’s other downstream activities in the country to Viva Energy in 2014.
The Shell brand will remain visible across the aviation refuelling network in the country through a trademark licencing agreement as part of the sale. Viva Energy will continue to supply aviation customers with Shell branded fuel under existing contracts. The transaction is expected to complete by mid-2017, subject to regulatory approval. Employees of Shell Aviation Australia will remain employed by the company as it transfers to new ownership.
Viva Energy already sells Shell branded Fuels and Lubricants under license in Australia and will continue to do so, including for aviation, after the sale completes.
Shell’s upstream operations in Australia, which include exploration, production and gas commercialisation, are not impacted by this announcement. Shell remains one of Australia’s largest private sector investors.
Shell is currently trying to shift $30billion worth of assets after its mega-takeover of BG.
Source: Energy Voice
LinkedIn Twitter Xing EmailWhen I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon […]
LinkedIn Twitter Xing EmailFirm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing […]
LinkedIn Twitter Xing EmailThe Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which […]