Anglo-Dutch oil group Royal Dutch Shell has appointed Credit Suisse to advise on the sale of its European liquefied petroleum gas (LPG) business, the Financial Times reported on Friday, citing four people with knowledge of the decision.
The business, which it previously tried to sell in 2010, could be valued at as much as 1 billion pounds ($1.63 billion) and is expected to attract bids from private equity firms as well as trade buyers, the FT said, attributing sources. (http://on.ft.com/1jbmU3p)
The newspaper said buyout groups PAI Partners, CVC Capital, Ardian, First Reserve and Advent International had submitted bids for the business in 2010.
Shell representatives could not immediately be reached for comment.