Shell Struggles to Divest Its Stake in German Schwedt Refinery

Shell plc (SHEL) is facing challenges over its planned sale of a 37.5% stake in the Schwedt refinery in Germany to the British energy conglomerate Prax Group. The deal was expected to be closed by the first half of 2024, contingent upon regulatory approvals and other partner considerations. However, it has been delayed owing to certain pending lawsuits by third parties. Shell has been trying to divest its stake in the refinery for several years now. The Schwedt refinery is located at the border of Poland an ...