Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Shell Says Power Gas Bids for Stake in Pakistan Unit

May 13 (Bloomberg) -- Royal Dutch Shell Plc, Europe’s largest oil company, said Power Gas Ltd. bids to acquire a 67.9 percent stake in its liquefied petroleum gas unit in Pakistan

Shell Gas LPG (Pakistan) Ltd. disclosed the offer in a filing today to the Karachi Stock Exchange Ltd.

JS Private Equity Fund LLC and Jamshoro Joint Venture Ltd. also bid for the stake in Shell Gas, according to filings to the stock exchange on May 4 and May 10 respectively. Shell Gas rose 2.2 percent to 55.12 rupees (65 cents) on the Karachi Stock Exchange today.

Advent International Plc, PAI Partners, Axa Private Equity, CVC Capital Partners Ltd., First Reserve Corp. and Riverstone Holdings LLC, an energy fund that works with Carlyle Group, are also bidding for some of Shell’s LPG assets, people with knowledge of the matter said earlier this month.

LPG, a byproduct of crude-oil and natural-gas extraction and oil refining, is used for cooking, heating and motor fuel.

The Anglo-Dutch company is examining possible LPG interest sales in France, Belgium, the Netherlands, Luxembourg, Denmark, Finland, Sweden, Norway, Hungary, Poland, the U.K., Malaysia, Pakistan, Sri Lanka, Philippines, Singapore and Argentina.

To contact the reporter on this story: Eduard Gismatullin in London at egismatullin@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.