Thebe Investment speaks on Shell exit

Shell was notified in 2022 and the value of the shares was determined by a pre-agreed formula and independent valuation by Thebe’s independent valuation expert according to international standards. Shell, however, delayed the finalisation of the sale transaction, said Thebe.  “A dispute has arisen between Thebe and Shell as to how Thebe’s shares should be valued. Thebe believes its approach is the correct one and is consistent with the agreed valuation formula.”The matter has been referred to arbitration as meetings between Thebe and Shell ended in deadlock. “Since April…