A protestor holds a placard as she joins a demonstration against oil major Royal Dutch Shell's plans to start seismic surveys to explore petroleum systems off the country's popular Wild Coast, at Muizenberg beach in Cape Town, South Afr ica, December 5. 2021. REUTERS/Mike Hutchings/File Photowill divest its majority shareholding from a local South Afr ican downstream unit after a comprehensive review of its businesses across all regions, it said on Monday.
Shell Downstream SA was formed after Shell South Africa and black empowerment company, Thebe Investment Corporation, agreed a decade ago to merge Shell South Africa Marketing and Shell South Refining businesses. Thebe held a 28% equity stake. During the divestment process, Shell said on Monday it would work to preserve SDSA's operating capabilities and maintain its brand presence.
RULES:SOUTH-AFRICA REPI:REFINING MTPIX BACT BIZ CMPNY COM DEAL1 DVST ENER ENFF ENG ENQSVC ENR NRG OILG OILI OILI08 OILQ OILQ1 PRIVT PUBL REFI REFI1 ZA GB WEU AFR SCANDV EUROP NO NORD SAFR BLUX EZC EMEA EMRG NL FIN
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