SHV Energy China has reached agreement with BP to acquire its LPG operations in Shanghai, Foshan, Zhongshan and Jiangmen. The transaction is expected to be completed during the second quarter of 2013, subject to all legal and regulatory approvals being received.

The BP business supplies domestic, commercial and industrial customers with high quality LPG. The acquisition of the BP entities in Jiangmen, Zhongshan, Foshan and Shanghai will enable SHV Energy to extend its coverage to customers and to further improve the quality and efficiency of its service to them.

"Over the years, BP has built up a strong business supplying safe and high quality LPG to its customers. As BP it exits its downstream LPG operations worldwide, SHV Energy is pleased to acquire this business. The acquisition underlines our commitment to remain a leading player in the Chinese LPG industry", commented SHV Energy China CEO Fulco van Lede.

About SHV Energy China:

SHV Energy China is part of SHV, a family owned Fortune 500 Company originating from the Netherlands. SHV has 55,000 employees in over 40 countries worldwide and has annual revenues of approximately RMB 135 billion.

SHV Energy is a leading global dedicated LPG distributor that consists of a group of specialized energy companies. These companies provide people and businesses with decentralized personalized energy solutions and services. Today it is servicing the needs of over 30 million customers over 3 continents that use its energy for hundreds of applications.

In China, SHV Energy has leading positions in the Pearl River Delta and Shanghai. It employs around 3,400 people in China and is committed to delivering high quality and safe energy to its customers.