63 Days
Source:
اقتصاد سكاي نيوز عربية
Adalous for Distribution Agrees to Acquire Shell South Africa Downstream
Adnoc Distribution announced the signing of a definitive agreement to acquire full ownership of "Shell Downstream South Africa" at an estimated value of one billion dollars. The deal is part of the company's international expansion plans, with completion expected in 2027 after obtaining the necessary regulatory approvals. It will also involve selling a 28% stake to a local partner in accordance with South Africa's economic empowerment laws. Shell Downstream South Africa features a portfolio of around 580 fuel stations and operates in the distribution and marketing sector in the region, with expectations of increasing the company's value and strengthening Adnoc's presence in the African market.
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