Three bidders for Chevron's South African assets
U.S. oil major Chevron said in January it planned to sell 75 percent of its South African business unit, which includes a 110,000-barrels-a-day refinery in Cape Town, three industry sources told Reuters.
The second bidding round in which actual offers were made closed on Sept. 30, the sources said, with a selling price estimated at $1 billion expected for the assets in South Africa as well as neighbouring Botswana.
"Total, Glencore and Gunvor have bid for the assets," said one industry source close to the matter.
A second source with knowledge of the transaction said: "These companies comprise the front-runners for the bid. We might possibly get a (preferred bidder) decision by the first quarter of next year." ■