Shell to sell its stake in Chinese lubricant supplier Tongyi: Reuters

Royal Dutch Shell Plc said it signed an agreement to sell its 75 percent stake in Tongyi Lubricants in China to Huo’s Group and private-equity firm Carlyle Group LP.

Tongyi is a joint venture between Shell and Huo’s Group. Shell bought the stake in Tongyi from Huo’s Group in 2006.

The company did not disclose financial terms of the deal.