Shell Decides To Quit European Home Retail Energy Businesses Citing Lower Returns: Report

Shell PLC SHEL is reportedly exiting its home retail energy businesses in Britain, Germany, and the Netherlands due to their lackluster performance.
Shell's strategic review that was initiated in January to evaluate European businesses amid challenging market conditions has been concluded, Reuters reported.
Consequently, Shell is planning to pull the plug on the businesses, the report read, citing a statement from the energy and petrochemical behemoth.
The company intends to divest these businesses, and a sales process is underway.
The report read that Shell aims to reach an agreement with a potential buyer in the coming months for the final disposal of the business.
Earlier in May, Reuters noted that three of Britain's most prominent power providers had expressed interest in acquiring Shell's UK retail business, citing sources close to the process.
Price Action: SHEL shares are trading lower by 0.48% to $57.44 on the last check Tuesday.