We are excited to announce the formation of a joint venture between CITADEL Pacific Ltd. and Sefas Group which has agreed to acquireShell Indonesia’s mobility value chain business. CITADEL is the majority shareholder of the newly established partnership bringing its extensive knowledge and experience in fuels distribution and energy solutions. Sefas will join as a minority shareholder, bringing its deep local knowledge and extensive customer network in Indonesia. Both companies have longstanding relationships and partnership with Shell.

CITADEL previously acquired and continues to grow Shell branded retail station networks in Guam, Saipan and Palau and is the Shell LPG licensee in Hong Kong and Macau. CITADEL also previously acquired Shell’s Philippine LPG assets which is now branded Solane. The Group is also the majority JV partner with Shell Philippines for Real Estate.

This transaction in Indonesia continues CITADEL’s long relationship with Shell and strengthens its position as a proven, well-established partner in the Asia-Pacific region. Upon completion, CITADEL’s geographic footprint will significantly increase, and will see its customer base grow to a combined population of over 400 million people.

Established in 1997, Sefas has grown to become the largest Shell lubricants distributor in Indonesia. Sefas caters to various industries, including mining, marine, logistics, and manufacturing, providing a wide range of lubricant products and services. More recently, Sefas has expanded cooperation with Shell by diversifying into commercial fuels for Indonesia.

With both companies’ deep understanding of Shell, and demonstrated commitment to customers and staff, we believe CITADEL and Sefas are the right partners to carry this business forward. Upon completion, the Shell brand will remain in Indonesia through brand licensing agreements; fuels will be supplied through Shell Trading, and customers will continue to have access to Shell’s high-quality fuels and lubricants products.

This acquisition and new partnership reflect CITADEL’s deep commitment in Building Tomorrow as a stronger, more connected energy player across the Asia-Pacific region. CITADEL-Sefas will inherit Shell’s robust network of over 200 retail (mobility) stations that will continue to serve Indonesia’s growing energy needs today and evolving demands of tomorrow.

We look forward to welcoming new colleagues soon into the CITADEL family, learning from each other, growing together, and fueling new possibilities into the future.