Aramco, ADNOC mull acquisition of Shell's South Africa assets: Report

24/05/2024 Argaam

ADNOC, Aramco mull acquisition of Shell's South Africa assets: Report

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Saudi Arabian Oil Co. (Saudi Aramco) and Abu Dhabi National Oil Co. (ADNOC) are among companies considering bids for Shell's assets in South Africa, Bloomberg reported on Friday, citing people familiar with the matter.

 

South Africa's Sasol Ltd is also studying an offer for the business, which could be valued at more than $800 million.

 

Trafigura Group’s subsidiary and Glencore Plc are among potential suitors that may study the assets ahead of a bid deadline in the coming weeks.

 

Talks are still in initial stages, the sources said, noting that potential bidders may appear.

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