Shell’s sale of 20pc stake completes exit from Africa downstream fuel business

Anglo­ Dutch petroleum giant Shell has sold its remaining 20 per cent shareholding in Vivo Energy for $250 million (Sh25.5 billion), completing its planned pullout from the African oil retailing business that it started in 2011.

Shell said in a statement completion of the transaction is expected in the first half of next year, subject to regulatory approval.