Shell completes sale of Denmark Marketing business to Couche-Tard
May 2, 2016
Shell has completed the sale of Dansk Fuels in Denmark to Couche-Tard for approximately $300 million including working capital. Dansk Fuels comprises Shell’s Retail, Commercial Fuels, Commercial Fleet and Aviation businesses, and products distribution activities associated with those businesses. It will be owned by Circle K Denmark A/S (formerly Statoil Fuel and Retail A/S), which is a subsidiary of Couche-Tard.
Shell signed an agreement to divest the business in March 2015. Completion of the transaction follows regulatory approval from the European Commission.
The Shell brand will continue to be visible in the country through a Trademark Licence Agreement with Dansk Fuels. The euroShell card scheme will remain in place.
The sale is consistent with Shell’s strategy to concentrate its downstream footprint on assets and markets where it can be most competitive. Shell’s Upstream business in Denmark is not impacted.
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Notes to Editors:
As part of regulatory approval from the European Commission Circle K has committed to sell on parts of the acquired Shell business. Circle K recently announced that it has reached a conditional agreement with DCC that is subject to regulatory approval. Until completion of this transaction Circle K will manage the business on an arms-length basis. http://europa.eu/rapid/press-release_IP-16-1061_en.htm
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