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Adnoc Distribution to acquire Shell Downstream South Africa in $1bn deal
Multinational fuel and convenience retailer Abu Dhabi National Oil Co (Adnoc Distribution) intends to acquire 100% of the share capital of integrated energy and petrochemical company Shell Downstream South Africa for $1-billion. This marks a significant step towards Adnoc Distribution’s drive to become a global mobility and convenience retailer, while advancing its fuel retail footprint in Africa.
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thenationalnews.com
Adnoc Distribution to acquire Shell Downstream South Africa to boost global portfolio | The National
With enterprise value of $1bn, deal is expected to be closed next year
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gulfnews.com
ADNOC Distribution makes $1 billion move into South Africa fuel market
ADNOC Distribution to buy Shell Downstream South Africa in a $1 billion deal, gaining 580 fuel stations, aviation fuel operations and a major African growth platform.
