AFX Europe (Focus): Galp to complete purchase of Shell petrol stations in Spain tomorrow – report
Sep 01, 2004
LISBON (AFX) – National oil company Galp Energia will receive a delegation from the Royal/Dutch Shell group in Lisbon tomorrow to finalise the acquisition of 320 Shell petrol stations in Spain, Diario Economico reported.
A Galp spokesman confirmed the meeting and said it will be a decisive negotiating round, the report added.
No purchase price was mentioned.
Portuguese consortium Petrocer has the right to amend the conditions of its proposed purchase of a 40.79 pct government stake in Galp if it does not like the terms of the potential deal to acquire Shell’s Spanish filling stations.
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