Companies & Finance

Shell sells its share in Brazilian gas distributor

Shell has sold its 16.8% interest in gas distributor Comgás to Brazilian conglomerate Cosan for $380 million.
By Staff reporter 11 October 2017 0 27935

Shell has sold its 16.8% interest in gas distributor Companhia de Gas de São Paulo (Comgás) to Brazilian conglomerate Cosan for $380 million.

Cosan, which already controlled 62.7% of Comgás, agreed to a deal when it took control of the distributor in 2012, the Valor Econômico newspaper reported in July.

"This transaction allows us to focus our efforts in Brazil on areas where we see the most strategic value for Shell longer-term," Maarten Wetselaar, Shell’s integrated gas and new energies director, was quoted as saying.

...