Shell defends move to sell entire 51% stake in Malaysian unit to Chinese co significantly below market value

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.