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Shell considering the sale of selected downstream businesses in Italy
Shell’s non-service station Lubricants and Marine businesses are not part of this announcement. This announcement also has no impact on the Upstream and Gas & Power businesses in Italy. These businesses present strong growth opportunities for the company in Italy.
The potential sale is consistent with Shell’s strategy to concentrate its global Downstream businesses where it can be most competitive. Recent examples include the sale of refineries in the UK and Germany and Downstream businesses in Finland and Sweden as well as the establishment of joint ventures in Brazil and across Africa.
Italy remains an important country for Shell.
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The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this announcement "Shell", "Shell Group" and "Royal Dutch Shell" are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. "Subsidiaries", "Shell subsidiaries" and "Shell companies" as used in this announcement refer to companies in which Shell either directly or indirectly has control, by having either a majority of the voting rights or the right to exercise a controlling influence. The companies in which Shell has significant influence but not control are referred to as "associated companies" or "associates" and companies in which Shell has joint control are referred to as "jointly controlled entities". In this announcement, associates and jointly controlled entities are also referred to as "equity-accounted investments". The term "Shell interest" is used for convenience to indicate the direct and/or indirect (for example, through our 23 per cent shareholding in Woodside Petroleum Ltd.) ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.
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