Shell takes Best stake

SHELL China Holdings, a subsidiary of Royal Dutch Shell, says it has signed a contract with a unit of Yip's Hang Cheung (Holdings) to acquire a 40 per cent stake in Zhangjian Best Lubricant Blending.

Zhangjian Best Lubricant will be 40 per cent-owned by Yip's, 40 per cent by Shell and 20 per cent by the port authority.