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EU Commission approves Repsol’s acquisition of Shell Portugal assets

EUBusiness.com: EU Commission approves Repsol’s acquisition of Shell Portugal assets

14 September 2004

The European Commission said Tuesday it had approved the acquisition by Spain’s Repsol YSF of most of the Portuguese products and businesses belonging to Anglo-Dutch oil giant Shell.

The executive arm of the European Union determined that the transaction would not raise competition concerns since other large and capable players compete in the market.

It said the new entity would face competition from Portugal’s Galp, BP PLC, Cepsa, Exxon Mobil Corporation and a number of independent companies.

The bid for Shell’s operations in Portugal was announced by Repsol on June 25 and covers 303 service stations, direct sales of fuel and asphalt, marine fuel and storage facilities. Among activities excluded in the deal is Shell’s lubricant business in Portugal.

The deal will enable Repsol YSF to become Portugal’s third largest oil industry operator with 417 service stations and 19 percent of the service station market.

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