Shell to Acquire Full Ownership of Tri Star Energy

Shell plc signed an agreement to increase its equity stake in Tri Star Energy from 33% to 100%. The acquisition, executed through Equilon Enterprises LLC, adds 320 company-owned fuel and convenience retail sites in Tennessee and surrounding southeastern states to the company's portfolio. The deal also includes supply agreements for 552 dealer-owned locations.

Shell is acquiring the remaining interest from The Parman Corporation, Kimbro Oil Company, and their subsidiaries. Following the completion of the transaction, Tri Star Energy will be operated by Texas Petroleum Group, LLC, a subsidiary of Shell Mobility & Convenience US LLC.

Machteld de Haan, President of Downstream, Renewables and Energy Solutions at Shell, stated that the transaction is "fully aligned with our growth strategy to focus capital on businesses in which we have distinctive advantages and can create long-term shareholder value." The deal is expected to close by the end of 2026, pending regulatory clearance and closing conditions.