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Reuters: Shell nears sale of Argentina gas station chain

Published 08/24/2017, 10:48 AM
© Reuters.  Reuters: Shell nears sale of Argentina gas station chain
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  • Brazil's Raízen Energia is close to buying parent Royal Dutch Shell (LON:RDSa)'s (RDS.A, RDS.B) Argentina gasoline station network for worth more than $1B, Reuters reports.
  • Raízen's non-binding bid topped rival offers by Argentina's YPF, Chile's Quinenco and China's PetroChina (NYSE:PTR), according to the report.
  • Shell, which has 630 Argentine gas stations, put the unit up for sale earlier this year as part of its $30B divestiture program to cut debt following last year's purchase of BG Group.
  • Now read: Icahn's Resignation Signals A Return To The Status Quo For The Biofuels Mandate


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