On January 3, Royal Dutch Shell said it has completed the sale of the first phase of its Hong Kong and Macau liquefied petroleum gas (LPG) marketing business to DCC LPG on December 31.
“Shell continues to operate the LPG plant in Hong Kong, which is part of the second phase of the transaction and is subject to conditions including regulatory approvals,” the Hague-based company said in a press release.
The sale of Shell’s entire LPG business in Hong Kong and Macau was announced on April 5, 2017 for an agreed total transaction value of approximately $150 million.
As part of the sale, Shell branded LPG products will continue to be available in Hong Kong and Macau via a long-term brand license agreement with DCC LPG.
According to Shell, the sale does not impact any of Shell’s other businesses and Shell remains committed to helping meet growing energy demand in Hong Kong and Macau.