Adnoc Distribution announced on 7 July that it had reached a definitive $1bn agreement to acquire Shell’s distribution assets in South Africa. The firm expects to close the deal in 2027, and once completed, it will take over 580 fuel stations as well as wholesale fuel, aviation and lubricants operations in the country.
The company has been looking into the potential purchase since the first half of 2024 and faced competition from Aramco for the assets. (CONTINUED - 195 WORDS)