Shell: sells stake in Brazil gas distributor.
(CercleFinance.com) - Royal Dutch Shell has signed an agreement to sell all of its 16.
8% stake in Brazilian gas distribution company Comgas to Cosan for approximately 380 million dollars.
The oil giant said the transaction will enable the group to focus its efforts in Brazil on other areas where it sees the most strategic value over the longer term.
Shell retains a number of operations in Brazil, including its stake in biofuel producer Raizen.
Brazilian energy and logistics giant Cosan currently holds a 63.4% stake in Comgas.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
8% stake in Brazilian gas distribution company Comgas to Cosan for approximately 380 million dollars.
The oil giant said the transaction will enable the group to focus its efforts in Brazil on other areas where it sees the most strategic value over the longer term.
Shell retains a number of operations in Brazil, including its stake in biofuel producer Raizen.
Brazilian energy and logistics giant Cosan currently holds a 63.4% stake in Comgas.
Copyright (c) 2017 CercleFinance.com. All rights reserved.