ADNOC Distribution awaits financial impact of Shell South Africa deal after H2 2027
RIYADH: ADNOC Distribution expects its acquisition of Shell Downstream South Africa’s portfolio to begin contributing to the company’s financial flows after the deal closes in the first half of 2027, according to CEO Bader Saeed Al-Lamki.
Completion of the deal will proceed in line with procedures required by the relevant authorities in South Africa, Al-Lamki said in an interview with Alaa Joudy on Asharq Bloomberg. He added that the company expects to close the deal “by the end of the first half of 2027, after which it will begin contributing to our financial flows.”
He also noted that the company is close to announcing the local partner that will be part of the deal's structure, saying this would happen “within the coming few weeks.”
He added that the partner would come from the local market in line with South Africa's economic empowerment requirements, with its stake not exceeding 27 percent or 28 percent, noting that the company has completed the evaluation stages and is now working on finalizing the remaining procedures.
