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Shell, Varo in talks on German refinery stake sale

Published 15/12/2016, 10:37
© Reuters. The Wider Image: Bringing old petrol stations back to life
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LONDON (Reuters) - Royal Dutch Shell (l:RDSa) and Varo Energy are in advanced talks on the sale of Shell's 37.5 percent stake in the 220,000 barrels per day refinery in Schwedt, Germany, they said on Thursday.

The companies did not disclose the value of the deal.

Varo Energy, a joint venture between the world's biggest oil trader Vitol and private equity firm Carlyle Group (NASDAQ:CG), owns a refinery in Cressier in Switzerland and the Bayernoil refinery in Germany.

Shell is in the midst of a $30 billion (24 billion pound) asset disposal programme following February's $54 billion acquisition of BG Group.

© Reuters. The Wider Image: Bringing old petrol stations back to life

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