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Galp to complete purchase of Shell petrol stations in Spain tomorrow – report

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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