News & Media releases

Shell announces sale of assets in Spain

08/09/2004

As announced 25 June, Shell will divest its retail and commercial fuels businesses in Spain. Shell Petroleum N.V. and Disa Corporación Petrolífera, S.A. announced today the signing of a Sale and Purchase Agreement and Trademark Licence Agreement relating to the divestment of Shell's Oil Products businesses in Spain, excluding the LPG, Lubricants, Aviation and Marine businesses.

The divestment includes a network of 338 retail service stations in Spain, a 5% stake in Compañía Logística de Hidrocarburos CLH, S.A. and distribution assets geographically spread across Spain. The sale is subject to regulatory approval and completion is expected to take place by the end of 2004.

Disa will continue to use the Shell brand under a Trademark Licence Agreement, thereby minimizing disruption to dealers and customers, and maintaining awareness of the Shell brand in the country. Furthermore, euroShell fuel card customers will continue to have access to the network in Spain and internationally, and Disa has an arrangement to supply Shell lubricants in the acquired retail sites.

Shell's LPG, Lubricants, Aviation, Marine, and Chemicals businesses will continue to operate in Spain as well as the Gas and Power business which has grown strongly since entering the gas market and will receive a further boost through the ESBI power venture.

The transaction is consistent with our strategy to increase the profitability of the downstream assets through greater focus in key countries.