Update on Vitol and ADIC Bid for Shell’s Australian Downstream Assets

Rotterdam-based Vitol SA and the Abu Dhabi Investment Council seem to have won the bid for Shell’s Geelong oil refinery and local service station network in Australia. The transaction amount is A$ 2.4 billion. The investor group beat out the consortium consisting of Glencore Xstrata and Macquarie Group.

Shell Australia listed the Geelong refinery for sale back in April 2012.

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