Monday, August 6, 2007
As part of an ongoing strategy of portfolio management, Société des Pétroles Shell (Shell) has received an offer for the sale of its Berre-l'Etang refinery site complex and associated infrastructure and businesses to Basell. A purchase price of $700 million has been agreed.
The sale is subject to staff consultation and regulatory approval. Shell will be working closely with the appropriate trade unions and staff representatives as it has been doing since the announcement to review the ownership of the assets was made in January 2007. It is anticipated that any deal would be concluded in early 2008.
Source : Scandinavian