Shell Plc will receive two final bids for its stake in its Nigerian joint venture this week from Tony Elumelu’s Heirs Holdings and local firmThe two are scrambling to procure Shell’s three-tenths holding in theShell will stop welcoming bids on Friday, according to the people who spoke on the condition that their identities will be concealed, given the sensitivity of the subject.estimated Shell’s own slice of the partnership at $2.3 billion based on a long-term oil price of $50 per barrel.
Ben van Beurden, Shell’s chief, informed shareholders last month a steep surge in attacks recently has sparked off a near-chaos situation its firm could not handle.According to two people privy to the transaction, possible future costs linked to litigation and environmental liabilities could influence the valuation of Shell’s stake.for the stake are no longer in contention, the people said.
Exxon Mobil Corp is also walking that path having announced in February it planned to offload its shallow-water operations to Seplat for around $1.3 billion.