March 24, 2017 / 9:20 AM / 5 months ago

BRIEF-Shell sells Gabon onshore assets for $587 mln

March 24 (Reuters) - Shell:

* Shell divests Gabon onshore interests

* Reached agreement with Assala Energy Holdings Ltd a portfolio company of Carlyle Group to sell 100 percent of its Gabon onshore interests for $587 million

* Purchaser will make additional payments up to a maximum of $150 million depending on production performance and commodity prices

* Purchaser will also assume debt of $285 million as part of transaction

* Transaction will result in an impairment charge of $53 million post tax which will be taken in Q1 2017

* Sale & purchase agreement is subject to certain conditions which include various approvals, closing is expected in mid-2017

* As a result of sale some 430 local Shell employees will become part of assala energy at completion Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below