Shell completes sale of two downstream businesses

Royal Dutch Shell has completed the sale of its Butagaz liquefied petroleum gas business in France to DCC Energy for €464m following the announcement in May.

The company said its other businesses in France – aviation, commercial fleet, lubricants and bitumen – are not impacted by this deal.

In addition, Shell has also completed the sale of its 75% interest in Tongyi Lubricants in China to Huo’s Group and The Carlyle Group following regulatory approval for an undisclosed sum.

The company said both divestments are consistent with its strategy to concentrate its downstream footprint on assets and markets where it can be most competitive, and to divest its LPG businesses worldwide.

At 0833 GMT, Shell shares were down 0.4% at 1,693.34p.