SEA Deal Ticker
The Shell sign stays up, the ownership does not: Sefas takes all 200 Indonesian stations
Sefas moves from a joint arrangement with Citadel Pacific to full ownership of roughly 200 Shell-branded sites and a fuel terminal in Gresik. Shell keeps the brand licence and stays the supplier.
Positive-sum angle: A distributor that started out selling Shell lubricants in 1997 now owns the forecourt; the brand becomes a service the Indonesian operator rents, not a landlord it answers to.