Shell divests its interest in Comgás

The headline for the transaction is approximately US$380 million. The transaction is expected to be completed by year-end, subject to customary closing conditions, regulatory approvals and certain consents. Shell’s share position in Cosan SA will be managed for value realization over time. Comgás is Brazil’s largest gas distributor with Cosan currently a 63.4% shareholder. “This transaction allows us to focus our efforts in Brazil on areas where we see the most strategic value for Shell longer-term,” said Shell’s Integrated Gas and New Energies Director, Maarten Wetselaar.

“Brazil is an important country to Shell, and our portfolio of high quality assets and development opportunities positions us well for the future.”
Shell retains diverse operations in Brazil that are not affected by this transaction, including its Deep Water portfolio and Downstream business, which includes participation in Raízen, one of the leading biofuel producers in Brazil. Source / More: Shell oilandgasOil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook ]]>

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