Baker McKenzie Wong & Leow Advises Shell on Sale of its Singapore Energy and Chemicals Park to CAPGC

Baker McKenzie Wong & Leow, the Singapore member firm of Baker McKenzie, has advised Shell Singapore Pte. Ltd. on the successful sale of its Energy and Chemicals Park assets located on Bukom and Jurong Islands in Singapore to CAPGC Pte. Ltd., a joint venture between Chandra Asri Capital Pte. Ltd. and Glencore Asian Holdings Pte. Ltd., following a competitive bid process. The sale was completed on 1 April 2025.

The divested assets represent Shell's largest petrochemical production and export center in the Asia-Pacific region and include Singapore's first oil refinery, built in 1961. This transaction follows Shell's strategic review initiated in 2023 in response to changing market conditions, enhanced capital discipline, and the high grading of Shell Group's Chemicals and Products portfolio.

The multidisciplinary Baker McKenzie Wong & Leow team was led by M&A Principal Boo Bee Chun, who was supported by Sharon Foo (Local Principal, M&A), Ong Liang Jun (Senior Associate, M&A), Rachel Chan (Associate, M&A) together with Geraldine Ong (Principal, Real Estate), Tan En Lai (Local Principal, Real Estate), Magdalene Huang (Senior Associate, Real Estate), Michelle Koh (Senior Associate, Real Estate), as well as Ken Chia (Principal, Regulatory) and Daryl Seetoh (Local Principal, Regulatory), and Ng Zhao Yang (Local Principal, Employment).

Bee Chun commented: "We are proud to have supported Shell through this transformative transaction. This landmark deal underscores our expertise as a Firm in handling complex, multi-disciplinary transactions spanning regulatory, employment, environmental, real estate, disputes, and tax. As our clients across the region adapt to energy transition imperatives and evolving business landscapes, we remain committed to delivering strategic legal counsel that enables their success."