Shell exit fuels bid speculation

Source: BusinessLIVE

British oil giant Shell -- which is preparing to sell its downstream interests in South Africa -- intends to have non-binding offers by June and to conclude sale and purchase agreements by December for its 72% stake in Shell Downstream South Africa (SDSA).

It has appointed auditing firm PwC to conduct due diligence and prepare financial reports on its plans to exit the downstream business, which includes more than 500 service stations and forecourts...