Shell to Cut Bidders to Three for Argentina Assets

Royal Dutch Shell Plc plans to focus on three bidders this month for its downstream oil assets in Argentina after receiving eight non-binding offers of $1 billion to $2 billion, people with knowledge of the matter said.

The shortlisted bidders will enter the second phase of the sales process, which includes an oil refinery and a network of gasoline stations, in the next two to three weeks, according to the people, who asked not to be named as the talks are private.

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