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Athens News Agency: News in English, 09-09-24
CONTENTS
[01] Motor Oil buys Shell's storage, distribution
[01] Motor Oil buys Shell's storage, distribution
Motor Oil -a Greek-listed refinery- on Thursday announced the
acquisition of Shell�s petrol station network in Greece, along with a
series of the oil giant�s assets in the country, for 291.1 million
euros.
Under the agreement, Motor Oil will buy from Shell Overseas Holding Ltd
its around 700 petrol stations, fuel storage facilities (located in six
Greek cities), its lubricants manufacturing facilities in Perama,
storage and distribution of chemicals and 49 pct of aircraft fuel
activities (Shell Oversease Holdings Ltd will maintain the remaining 51
pct stake). Under the deal, Motor Oil will maintain Shell�s brand on
its petrol stations for a period of at least five years.
Motor Oil will pay an additional 26.5 million euros to buy Shell Gas
(LPG) Holdings BV.
Meanwhile, Petros Petropoulos AEBE announced it will buy Shell�s
lubricants activities for around 14 million euros.
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