10:26 AM EST, 01/30/2025 (MT Newswires) -- Shell (SHEL) and Thebe Investment are close to resolving a valuation dispute, clearing the way for the sale of Shell's downstream assets in South Africa for up to $1 billion, Bloomberg reported Thursday, citing sources with knowledge of the matter.

Thebe, which owns 28% of Shell's local retail business, sought to exit its stake in 2022, but the two companies disagreed on its valuation, according to the report. The potential resolution would allow buyers to submit binding offers in the coming weeks, with interested parties including Saudi Aramco, Abu Dhabi National Oil and Trafigura, Bloomberg reported.

Thebe initially valued its stake at $200 million, but it could get more than that in the pending deal, Bloomberg quoted the sources as saying.

Shell and Thebe did not immediately respond to MT Newswires' requests for comment.

Shares of Shell were up by nearly 3% in recent Thursday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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