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  • Shell divests its interest in Comgas for a headline of US$380 million
    édité le 11/10/2017 - Plus de news de "SHELL" - Voir la fiche entreprise de "SHELL"


Shell divests its interest in Comgas for a headline of US$380 million
Shell Gas BV, Shell Brazil Holding BV and Integral Investments BV (“Shell”) announces they have signed an agreement with Cosan Ltd. to execute an existing Put Option Agreement, which allows Shell to sell all of its 16.8% interest in Companhia de Gas de São Paulo (“Comgás”) to Cosan Ltd. Under the agreement, Shell will exchange its ~21.8 million common shares in Comgás for Cosan S.A. Indústria e Comércio (“Cosan SA”) shares plus cash.

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.

About Royal Dutch Shell plc

Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.

About Comgás

Comgás is a gas distribution company in the São Paulo state of Brazil, primarily serving power, commercial, industrial and residential users. The Company is the largest piped natural gas distribution company in Brazil, with over 14,000 km of pipeline and over 1.7 million customers in 87 municipalities.
Other shareholders include Cosan SA with a 63.4% interest and public investors.


Origine : Communiqué SHELL

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