Reuters: Shell waives Czech refinery share option
Mon 30 August, 2004
Posted 31 August 04
PRAGUE (Reuters) – Royal Dutch/Shell says it will not exercise its option to buy extra shares in top Czech oil refinery Ceska Rafinerska, held by state-controlled group Unipetrol.
Shell is the first of three Unipetrol partners in Rafinerska — the other two are ENI’s Agip and ConocoPhillips — to react on an obligatory buyout offer made by Unipetrol in June.
Shell said on Monday it would keep its existing 16.3 percent stake in the refinery.