News & Media releases

Sale of Distrigas and Fluxys shares

07/09/2004

Belgian Shell has agreed to the sale of its 16.67% interest in each Distrigas SA, the Belgian gas wholesale company, and Fluxys SA, the Belgian gas transmission company to Suez-Tractebel, the utility group. Preemption rights of eligible co-shareholders need to be observed before the agreement can be effected.

The agreement is the result of commercial discussions that had been initiated several months ago. It is in line with Shell's portfolio management strategy to maximise shareholder value.

The prices agreed for the transaction are €1648/share for the shares held in Distrigas and €1600/share for the shares held in Fluxys, in line with share price levels in the recent past. The overall value of the transaction amounts to approx. €380.4 Million.