Suitors line up for Shell’s SA operation

Saudi Aramco, Abu Dhabi National Oil Co and commodities trader Trafigura are reportedly among suitors competing to buy Shell’s service stations in SA, according to sources. The assets have also attracted initial interest from SA’s Central Energy Fund, which owns PetroSA, as well as Sasol and Oman’s OQ Trading, sources say. Moneyweb reports that a winner could be picked by the end of the year. Shell, which is working with Rothschild & Co on the sale, may seek to raise nearly $1bn from the sale of its downstream unit in SA. The divestment includes trading and fuel supply businesses, the company said in May. It has a network of 600 service stations across the country, according to its website. The list of bidders is likely to be shortened over the next few weeks, and binding offers made by December. Shell said it doesn’t comment on divestment activities, and Rothschild declined to comment.

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