The government this morning signed the agreement to buy 51% shares of Shell Gas Lanka and 100% shares of Shell Terminals.

Shell is renamed Litro and will be managed by the Sri Lanka Insurance Corporation.
Accordingly, the parent company of Shell Gas Lanka Limited (SGLL) and Shell Terminal Lanka Limited (STLL) will exit from LP Gas business in Sri Lanka and the import, storage and distribution of LP gas will come under the purview of the Litro Company.

The agreement was signed by Secretary to the Treasury Dr. P. B. Jayasundara, Additional Secretary to the President and the Chairman of Sri Lanka Insurance Corporation Gamini Senerath on behalf of the government while Deputy General Manager of the Shell Company, Andrew Crowe represented the Company.