Aug 13 (Reuters) - Vitol SA has completed theacquisition of Royal Dutch Shell PLC's Australiandownstream businesses, a statement from Vitol said on Wednesday.
The acquisition led to the launch of Viva Energy Australia,which comprises of Shell's Geelong Refinery and 870 servicestations, its bulk fuels, bitumen and chemicals businesses andpart of its lubricants businesses in Australia plus a brandlicence arrangement and a distributor arrangement for ShellLubricants.
"We expect to invest $1 billion over the next five years sowe can continue to meet more than a quarter of Australia's fuelneeds efficiently and safely," said Scott Wyatt, CEO of VivaEnergy.
This A$2.9 billion ($2.60 billion) acquisition deal wasannounced in February this year.
Shell has been planning to sell the business as part of areported worldwide divestment programme under CEO Ben VanBeurden, worth about $15 billion. ($1 = 1.1134 Australiandollars) (Reporting by Anupam Chatterjee in Bangalore, editing byWilliam Hardy)
