Unified oil company shares pending sale
December 11 Dow Jones Newswires said Royal Dutch Shell is seeking to sell its stake in a Chinese joint-venture lubricant company that it holds for as much as $ 500 million in value. According to informed sources, Shell has started a sale of 75% stake in its joint venture Unity lubricants company, the estimated bid price will be between 3.5 billion * 500 million US dollars. The foreign investor provided a rare opportunity to gain a majority stake in a large Chinese-funded enterprise.
Industry analysts say Shell management is trying to boost return on investment by raising cash and divesting assets as a result of the huge performance pressure put on Shell by falling oil prices.