Royal Dutch Shell is selling its Australian aviation fuels business to Viva Energy Australia for around A$342.7 million.
In a recent statement, Shell said the deal is expected to be completed by the middle of next year and it Shell Aviation Australia employees will keep their jobs at the new company after the business changes hands.
Viva Energy was formed in 2014 with the acquisition of Shell’s Geelong refinery in Australia and its 870-site retail business, along with its bulk-fuels and chemicals businesses, in a deal that was worth about $US2.6 billion.
Viva Energy Chief Executive Scott Wyatt said the company has been the exclusive supplier Shell’s jet fuel in Australia for the past two years, and the acquisition of the business would allow the company to expand into airports and provide direct supplies to customers.
Viva Energy currently sells Shell-branded fuels and lubricants in Australia under license and will continue to do so after the deal.
SOURCE: [The Australian]