Shell to sell majority of Chile downstream unit

Shell has agreed to sell most of its downstream business in Chile to Quiñenco for a total value of approximately USD 614 million. Under a separate contract, Quiñenco has also been appointed as a Macro Distributor to market, sell and distribute Shell branded lubricants in Chile; they will become the delivery service provider for Shell Marine Products’ international customers in the country. The proposed sale includes all of Shell’s existing Retail, Commercial Fuels, Bitumen and Chemicals businesses, as well as related supply and distribution infrastructure in Chile. The retail network of approximately 300 sites will continue to be Shell-branded through a trademark license agreement.

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