PORT LOUIS: Petroleum distributor Shell Mauritius Ltd said on Monday that parent Royal Dutch Shell planned to sell three quarters of its stake in the company to two joint venture partners for $1 bn.
Shell Mauritius said Vitol Group and Helios Investment Partners would ensure continued availability of Shell fuels and lubricants in the country.
"The divestment includes the potential sale of the 75 percent of the share capital of SML held by Shell Overseas Holdings Limited (SOH)," Shell Mauritius said in a statement.
Trading in the shares of Shell on the Mauritius bourse resumed on Monday after being suspended on Friday following media reports that an agreement between Shell and Vitol-Helios Investment was in the pipeline.
The shares rose by 1.25 percent to 162 rupees from their last trading session on Thursday.
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