Saturday, October 23, 2021

    Shell completes $ 250m sale of aviation business in Australia

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Following regulatory approval, Shell has completed the sale of its Australian aviation business (Shell Aviation Australia Pty Ltd) to Viva Energy Australia Pty Ltd (Viva Energy) for a total transaction value of approximately US$ 250 million, including working capital. This sale was announced on 19 December 2016.

    Viva Energy is the exclusive licensee of all Shell branded fuels and lubricants in Australia. The Shell brand remains visible across the aviation refueling network in Australia and Viva Energy will continue supply to aviation customers as per existing agreements.

    Shell’s upstream operations in Australia, which include exploration, production and gas commercialisation, are not impacted by this announcement. Shell remains one of Australia’s largest private sector investors.

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