Abu Dhabi National Oil Company Distribution plans to acquire 100% equity of Shell's South African downstream business for 1 billion dollars.

Glonghui, July 7th｜ADNOC Distribution, a subsidiary of Abu Dhabi National Oil Company, announced its plan to acquire 100% equity in Shell South Africa's downstream business at an enterprise value of approximately $1 billion. Upon completion of the transaction, the company will sell a 28% stake to local empowerment partners and the employee stock ownership plan. The company expects this transaction to boost EBITDA by about 13% and earnings per share by about 6% in the first year after completion. The transaction is expected to be completed in 2027.