Shell Global

Shell Global
Canadian Portfolio

Commercial Development Company, Inc. purchased real estate and assumed remedial activities at 150+ sites formerly owned and operated by Shell Global. CDC affiliate Environmental Liability Transfer, facilitated the transfer and assumption of environmental liabilities. Located across ten Canadian provinces/territories and 3 U.S. states, these sites were impacted by petro-hydrocarbons due to past oil services operations. Shell determined that managing environmental contamination was outside their core business and decided to transfer environmental liabilities to ELT. CDC provided fair market value for the real estate assets. This transaction subsequently jumpstarted the environmental clean-up process. Today, the entire portfolio of impacted sites has been brought to regulatory closure.

This transaction enabled Shell to divest non-core, contaminated real estate, transfer significant environmental liabilities to ELT, secure environmental clean-up with fully-funded remedial trusts, and reallocate capital and manpower to core operations.