Royal Dutch Shell has moved a step closer to reaching its annual divestment target by offloading its stake in Japanese joint-venture refiner Showa Shell Sekiyu, as well as selling an aviation business in Australia.
The Japan Fair Trade Commission this week cleared the USD 1.4 billion deal with domestic oil company Idemitsu Kosan. The transaction had been agreed last year, but opposition from some members of the Japanese firm’s founding family had caused delays.
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