Shell Seen Shedding $1bn-plus of Argentine Assets

Shell Seen Shedding $1bn-plus of Argentine Assets

Argentina Chile M&A

A sale of Shell’s downstream Argentine assets could fetch more than $1bn and would be in line with the company’s regional strategy, market sources say. The Quineco unit of Chile’s Luksic group is rumored to be close to signing a deal to buy Shell’s 700 service stations, Dock Sud refinery and the Barracas lubricant plant, in what would be a follow-up to its purchase agreed in May to buy Shell’s Chilean downstream assets for $614m. Shell has been wanting to exit Argentina

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