Adnoc Distribution Announces $1bn Acquisition of Shell South Africa

Abu Dhabi's ADNOC Distribution has announced its fourth international market entry through a $1 billion agreement to acquire 100 percent of Shell Downstream South Africa, a move projected to increase its earnings per share by 6 percent in the first full year post-completion.

Expected to close in 2027 pending regulatory approvals, the transaction encompasses a massive network of 580 fuel stations, 360 convenience stores, and wholesale, aviation, and marine fuel operations that collectively handled approximately 3.5 billion liters of fuel in 2025.

To align with local Broad-Based Black Economic Empowerment requirements and protect local economic interests, ADNOC Distribution intends to sell a 28 percent stake in the business to a local empowerment partner and an employee stock ownership plan, while maintaining the recognized Shell brand across the retail assets through a long-term licensing agreement.