Shell Singapore Pte Ltd (SSPL), a subsidiary of Shell plc, has successfully completed the previously announced sale of its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd. (CAPGC), a joint venture between Chandra Asri Capital Pte. Ltd. and Glencore Asian Holdings Pte. Ltd.
The transaction was done through the sale of shares in Aster Chemicals and Energy Pte. Ltd., which is incorporated in Singapore and a fully-owned subsidiary of SSPL.
The divestment is in line with Shell’s ongoing efforts to high-grade its Chemicals and Products business. Shell remains committed to Singapore with its role as an important regional hub for Shell’s marketing and trading business.
Staff in Shell Energy and Chemicals Park Singapore will continue their employment with Aster Chemicals and Energy Pte. Ltd. under the new ownership, providing continuity for staff and contributing to ongoing operational reliability and safety.