Petroleum Industry: Conclusion of the sale of Shell Mauritius to Vitol and Helios Investment

The buyer is a tandem of Vitol and Helios Investment, which will buy 75% stake in Shell in seven African countries, including Mauritius. The amount of the deal is $ 1 billion, slightly more than Rs 30 billion.

Buyers have created a consortium, Plateau East Cluster Holdings, to conduct the takeover. The deal will be effective November 30, 2011. Purchasers will control the whole business of Shell Oil in these countries, including retail.

In a second and a third phase, Vitol and Helios will buy Shell's activities in seven countries, with an option to acquire the business of the multinational in five additional countries.

As already explained, the multinational oil company has to focus on research and oil by disposing of its business deemed unprofitable.