AXA PE and PAI bidding for Shell's €1bn LPG division
AXA Private Equity and PAI Partners are among the bidders circling Royal Dutch Shell’s Liquefied Petroleum Gas (LPG) division, which price tag nears €1bn.
Also said to be involved in the auction are Bain Capital, CVC Capital Partners and The Carlyle Group. Indicative bids are due to be submitted by 22 March.
The sale is in line with Shell's plan to divest non-core assets in order raise capital and meet its €28bn spending plans for 2010. LPG had an Ebitda of €120m in 2009.
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