Shell completed the sale of the first phase of its Hong Kong and Macau LPG marketing business to Ireland’s DCC on New Year’s Eve, international business newswires reported on Wednesday.
According to the report, Shell will continue to run its LPG plant in Hong Kong, which is part of the second phase of the transaction and is subject to conditions including regulatory approvals.
According to the Macau Post Daily, the sale of Shell’s LPG business in Hong Kong and Macau was announced last April for about US$150 million.
As part of the deal, Shell-branded LPG products will continue to be available in Hong Kong and Macau through a long-term brand licence deal with DCC.
The reports pointed out that Shell LPG business is one of the leading LPG sales and marketing businesses in Hong Kong and Macau, providing liquefied petroleum gas in bulk, cylinder and autogas formats to domestic, commercial and industrial customers
Dublin-based DCC is an international sales, marketing and support services group.