Shell sells shareholding in South Africa’s downstream business
Published on: May 13, 2024
The company expects to continue operating its fuel retail chain and maintaining the brand across the local network.
Shell has announced the sale of its shareholding in Shell Downstream South Africa (SDSA). According to the company, the decision was taken to streamline operations and that it intends to preserve its current fuel retail business.
SDSA was founded after Shell South Africa and Thebe Investment Corporation agreed to merge the energy giant’s Marketing and Refining businesses in the country almost ten years ago. After the merger, Thebe held a 28% equity stake.
“As this proposed transaction is an intended sale of Shell’s shares, SDSA is expected to maintain its operating capabilities and the Shell brand, with no material impact expected for you. Our service stations are open for business and will continue serving you with the highest standards,” the company stated in an official announcement.
The firm’s V+ Rewards loyalty programme will continue to be available for customers. Shell will continue to explore the country’s offshore operations after almost over a century of operating in South Africa.
