Weather New York, NY +70°F

Regions

TPG eyes Shell assets in Australia -report

Close
(Credit: Reuters) A logo is seen under a canopy of trees at a Royal Dutch Shell petrol station in central London.Royal Dutch Shell
January 8
1:16 AM 2014

Royal Dutch Shell is nearing the conclusion of a $3-billion sale of its petrol retail and refining assets in Australia, based on a report by The Australian Financial Review (AFR). The paper also said three parties are vying for the assets, wrote Business Spectator.

The paper suggests that private equity group TPG is competing with an Asian energy firm and another group that includes Macquarie Group, the report detailed.

AFR said the retail assets are considered the major takeaway with Shell's Geelong refinery encountering significant challenges, the report added.

BP and Chevron, which currently holds a 50% stake in Caltex Australia, have also been rumored to be considering the sales of their petrol retail assets in the country, Business Spectator reported.

Credit Suisse analyst Mark Samter told the newspaper: "There's a serious appetite for these types of assets, they are very high quality, defensive, pretty high visibility. It's a competitive market but it's a rational market."

© 2019 VCPOST, All rights reserved. Do not reproduce without permission.
Tags
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics