Glencore, PT Chandra part of Group Nearing Deal for Shell Singapore Assets

A group including commodity trader Glencore Plc and Indonesian chemicals business PT Chandra Asri Pacific is in advanced talks to buy Shell Plc assets in Singapore in a deal that could be worth about $1 billion, people with knowledge of the matter said.

The parties are working on the details of a transaction that could be announced as soon as the coming weeks, according to the people, who asked not to be identified as the process is private. Shell’s Singapore assets include a refinery capable of processing 237,000 barrels of oil a day, a facility on Jurong Island that produces monoethylene glycol and an ethylene plant on Pulau Bukom.

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