Shell Overseas Holdings Limited (SOHL), which had reached a conditional agreement with Malaysia Hengyuan International Limited (MHIL) for the sale of its 51 per cent shareholding in the Shell Refining Company (SRC) in Malaysia for $66.3 million, has unveiled deal details, and said the sale was in line with its current global strategy.
SOHL had first announced the deal on February 2, but its move to sell its entire 51% stake in a refinery in Port Dickson to a Chinese company, at a value far lower than the market price of the assets, has since led to considerable speculation.
