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Investing.com -- Shell (LON:SHEL) Plc and its South African partner, Thebe Investment Corp., are reportedly close to settling a valuation dispute which could lead to the sale of Shell’s local downstream assets for up to $1 billion.
UK-based Shell operates a network of service stations throughout South Africa and Thebe Investment holds a 28% stake in the local retail operation.
Bloomberg reported that the dispute originated in 2022 when Thebe expressed a desire to sell its stake. However, the two parties could not agree on the value of the stake, leading to the current situation.
The potential agreement could result in a significant gain for Thebe, while the company initially valued its stake at $200 million in 2022, the report said.
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