THE WALL STREET JOURNAL: Shells To Divest 59 Retail Service Stations In Romania: “The divestment includes a network of 59 retail service stations geographically spread across Romania and the Aviation, Lubricants, Commercial and Marine businesses.” (ShellNews.net) 23 Nov 04
DOW JONES NEWSWIRES
November 23, 2004
Edited Press Release
AMSTERDAM -- The Royal Dutch/Shell Group (RD,SC) and the MOL Group (MOL) have signed a Sale and Purchase Agreement for the sale of the shares in Shell Romania SRL, excluding Shell Gas Romania S.A.
The divestment includes a network of 59 retail service stations geographically spread across Romania and the Aviation, Lubricants, Commercial and Marine businesses. The sale is subject to regulatory approval and completion is expected to take place early 2005.
Rob Routs, Shell Executive Director Downstream, said, "The agreement with MOL is the result of intensive work carried out over the last months. The transaction is consistent with Shell's strategy of "more upstream, profitable downstream". One way of increasing the profitability of our downstream assets is through greater focus on those markets in which we are best positioned to operate successfully."
Company Web site: www.shell.com