DataRoom AM: Macquarie dropout

Macquarie bows out of the race for Shell’s Australian assets, while Rio Tinto appears to have halted its divestments.

Royal Dutch Shell has narrowed the list of suitable bidders for its Australian petrol retail and refining assets to one, leaving Macquarie Group as an under-bidder on a multi-billion dollar deal for the third time in a matter of months.

Elsewhere, Rio Tinto puts asset sales on the backburner, Saputo fails to claim full control of Warrnambool Cheese and Butter, Newcrest Mining rejects capital raising rumours and Westfield Group faces a delay on its demerger plans.

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