By OGJ editors
HOUSTON, Apr. 4 -- Royal Dutch Shell PLC agreed to sell most of its downstream business in Chile to conglomerate Quinenco for $614 million.
The proposed sale covers all Shell’s existing retail, commercial fuels, bitumen, and chemicals businesses in addition to related supply and distribution infrastructure in Chile.
Shell previously announced plans to concentrate its global downstream assets into fewer, large markets. The retail network of about 300 sites in Chile will continue to be Shell-branded.
Under a separate agreement, Quinenco will distribute Shell-branded lubricants and Shell Marine Products in Chile.