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Shell divests its interest in Comgás for a headline of $380 MM

Shell Gas BV, Shell Brazil Holding BV and Integral Investments BV announces they have signed an agreement with Cosan Ltd. to execute an existing Put Option Agreement, which allows Shell to sell all of its 16.8% interest in Companhia de Gas de São Paulo to Cosan Ltd. Under the agreement, Shell will exchange its ~21.8 million common shares in Comgás for Cosan S.A. Indústria e Comércio shares plus cash.

The headline for the transaction is approximately $380 MM. The transaction is expected to be completed by year-end, subject to customary closing conditions, regulatory approvals and certain consents. Shell’s share position in Cosan SA will be managed for value realization over time.

Comgás is Brazil’s largest gas distributor with Cosan currently a 63.4% shareholder.

Shell retains diverse operations in Brazil that are not affected by this transaction, including its deepwater portfolio and downstream business, which includes participation in Raízen, one of the leading biofuel producers in Brazil.


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ADIP ULTRA: ADIP-X Reimagined

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Shell Global Solutions International BV (Shell) is launching the improved process technology ADIP ULTRA, for cost-effective removal of CO2 down to <50ppmv. The ADIP ULTRA process is applicable in gas plants, LNG, pre-NGL, refinery HMUs and gasification syngas.
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May 9, 2017 9am UTC

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