Four private equity bidders and one trade buyer have reportedly dropped out of the auction for Royal Dutch Shell's liquefied petroleum gas business after the group issued bidders with a negative trading outlook in France, its largest market. The deal had been estimated to be worth up to $2.5bn (€2.1bn).

Dow Jones reports that buy-out houses Cinven, CVC Capital Partners, The Blackstone Group and Eurazeo have all dropped out and Abu Dhabi-based International Petroleum Investment Company is also reported to have abandoned the auction.