Shell said it has completed the sale of the first phase of its Hong Kong and Macau LPG marketing business to DCC LPG on 31st December 2017.
Shell continues to operate the LPG plant in Hong Kong, which is part of the second phase of the transaction and is subject to conditions including regulatory approvals, the Hague-based company said in its statement on Wednesday.
The sale of Shell’s entire LPG business in Hong Kong and Macau was announced in April 2017 for an agreed total transaction value of approximately $150 million.
As part of the sale, Shell-branded LPG products will continue to be available in Hong Kong and Macau via a long-term brand license agreement with DCC LPG.