Stake sale: Royal Dutch Shell is selling its Shell Refining Company stake for RM276mil to MHIL.
PETALING JAYA: Royal Dutch Shell, the global oil giant, is selling its entire 51% stake in a refinery in Port Dickson to a Chinese company in a transaction that values the asset significantly lower than its market price.
In a statement, Shell said it was disposing of its majority stake in Shell Refining Company (Federation of Malaya) Bhd or SRC to Malaysia Hengyuan International Ltd (MHIL) for US$66.3mil (RM276mil).
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