壳牌统一控股权转让，悬了？

　　据道琼斯12月11日消息，由于油价下跌给壳牌业绩带来压力，壳牌的管理层正试图通过筹集现金和剥离资产来提高投资回报。壳牌已启动其所持合资企业统一润滑油公司75%股权的出售交易，预计竞标价格将在3.5亿-5亿美元之间，为潜在买家获得一家中资企业的多数股权提供了一个难得的机会。壳牌要出售75%的统一润滑油股权，这条新闻引起了行业圈内热议，众说纷纭。作为中国访问量最大影响力最大的润滑油行业媒体，中国润滑油信息网(www.sinolub.com )一直关注事态的发展。目前市场传闻有兴趣的买家包括巴菲特、黑石集团、胜牌、中海油、中化以及霍氏集团，最近更有不少跨界的产业资本、地产资本伺机进入润滑油行业，统一的控股权最终花落谁家，是产业资本还是财务资本，是传闻中的巨头还是未知的大鳄黑马?

　　由于壳牌或壳牌统计到目前为止都没有就此事发出公开招标信息，近日，不少有收购意向的行业大佬希望通过中国润滑油信息网了解相关股权转让信息或牵线搭桥，就关于壳牌统一股权转让事宜，中国润滑油信息网连线壳牌中国集团大陆及香港地区润滑油业务总经理沈坚先生，其回答“我们不会回应市场传言，更不会邀应竞标”。壳牌中国新闻发言人史江涛在回复中国润滑油信息网的邮件中则表示，“我们对于市场传言不予置评”。

　　据中国润滑油信息网了解，壳牌统一(北京)石油化工有限公司是壳牌集团旗下专业润滑油生产企业，总部位于北京。作为一家长期服务于中国本土市场的专业润滑油制造商，壳牌统一专注于符合中国用户需求的润滑油的研发和生产，在汽车用油、摩托车用油、工业用油、工程机械用油及润滑脂、刹车油、不冻液等众多石油化工领域，为中国用户提供专业、高效、优异的润滑及养护方案。目前壳牌统一设有北京、咸阳、无锡三个工厂，年综合生产能力达60万吨，是目前中国最大的润滑油专业制造商之一。统一润滑油在全国31个省市区所有的地级市场均设有直供经销网点，为客户提供快捷便利的服务。作为壳牌大家庭的一员，壳牌全球采购平台是统一润滑油原材料采购的重要组成部分之一，并沿用壳牌集团的技术标准和管理体系，润滑油优质稳定，获得众多原厂认证。

　　岁末年初，市场风云突变，油价暴跌、人工成本居高、消费税多次提升、汇率波动加大、降息降准可期。面对产能激增、需求放缓的行业新常态，润滑油企业有的逆市扩张谋求未来，有的收缩战线静观其变。行业巨头兼并重组扩能动作频频，行业将如何进行洗牌?一边是求购者跃跃欲试，望穿秋水;一边是转让者隐隐约约，不置可否。壳牌统一控股权转让大戏即将揭幕还是昙花一现?我们拭目以待，但无论如何，可以预料，2015中国润滑油市场或将酝酿大变局。

事件原文如下：

Shell Looks to Sell Stake in China Lubricants Business Tongyi

Royal Dutch Shell PLC is looking to sell its stake in a Chinese oil lubricants business in a deal that could fetch up to $500 million, as the Anglo-Dutch energy major sheds assets across the globe amid falling oil prices.

The company has started a sale process for its 75% stake in the Tongyi oil lubricants joint venture, with bids expected to come in between $350 million and $500 million, according to people familiar with the situation, offering prospective buyers a rare majority stake in a Chinese company.

Blackstone Group LP appears to be in a strong position for first round bids among the private-equity firms looking at the Chinese operation, according to these people. The U.S. private-equity firm is working with the founder of the Tongyi joint venture, Huo Zhenxiang, to craft a joint bid, they said. Mr. Huo owns the 25% stake in Tongyi not owned by Shell.

Shell's management is looking to raise cash and slim down to boost returns as falling oil prices pressure results. When Shell Chief Executive Ben van Beurden took the helm in January he laid out plans to sell $15 billion of assets by the end of 2015. He has turned his focus away from growing investments and toward improving free cash flow and raising stock dividends to appease investors.

The company's shares have declined by more than 5% this year.

Shell hired China International Capital Corp. to sell its 75% stake in Shell's Tongyi brand of oil lubricants for cars, motorcycles, and other vehicles, according to people familiar with the situation. The Beijing-based investment bank is canvassing potential buyers for the business, and private-equity firms and industry players are expected to participate in the first-round bidding, these people said.

The business could be particularly interesting to deal makers because it is a rare slice of China's energy industry where foreigners can own controlling stakes.

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