Royal Dutch Shell is selling its Australian aviation businesses

By Harry Allan

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.

Business Review Australia's December issue is now live. 

Follow @BizReviewAU and @MrNLon on Twitter. 

Business Review Australia is also on Facebook.

SOURCE: [The Australian]

 

Share
Share

Featured Articles

Nirvik Singh, COO Grey Group on adding colour to campaigns

Nirvik Singh, Global COO and President International of Grey Group, cultivating culture and utilising AI to enhance rather than replace human creativity

How Longi became the world’s leading solar tech manufacturer

On a mission to accelerate the adoption of sustainable energy solutions, US$30 billion Chinese tech firm Longi is not just selling solar – but using it

How Samsung’s US$5billion sustainability plan is working out

Armed with an ambitious billion-dollar strategy, Samsung is on track to achieve net zero carbon emissions company-wide by 2050 – but challenges persist

UOB: making strides in sustainability across Southeast Asia

Sustainability

Huawei smartwatch goes for gold with Ultimate Edition

Lifestyle

How IKEA India plans to double business, triple headcount

Corporate Finance