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Shell sells Australian business to Vitol for A$2.9blln

SYDNEY, Feb 21 (Reuters) - Royal Dutch Shell PLC said on Friday it had agreed to sell its Australian downstream businesses to Vitol SA for about A$2.9 billion ($2.60 billion).

The sale covers Shell's Geelong Refinery and 870 service stations plus its bulk fuels, bitumen and chemicals businesses and part of its lubricants businesses in Australia.

It also includes a brand licence arrangement and a distributor arrangement for Shell Lubricants, Shell said.

Shell has been planning to sell the business as part of a reported worldwide divestment programme under CEO Ben Van Beurden, worth about $15 billion.

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