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Adnoc Distribution completes largest overseas expansion with acquisition of Shell assets in South Africa
Adnoc Distribution, the UAE-based company, announced the completion of a $1 billion acquisition of Shell Downstream South Africa, marking its largest foreign acquisition to date. The deal includes 580 fuel stations, wholesale operations, and jet fuel activities, increasing Adnoc’s network by 55% to approximately 1,600 locations. This expansion strengthens its presence in the African market, with projections of a 6% increase in earnings per share and a 13% rise in EBITDA during the first year.
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