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Shell, Turcas in retail venture in Turkey

AFX Asia (Focus): Shell, Turcas in retail venture in Turkey

“In a statement, Shell said it will own a 70 pct stake in the joint venture, while Turcas will hold the remaining 30 pct.”

Posted Thursday 29 September 2005

LONDON (AFX) – Royal Dutch Shell PLC and Turkish oil group Turcas Petrol AS have signed an agreement to market and distribute fuels and lubricants in Turkey.

In a statement, Shell said it will own a 70 pct stake in the joint venture, while Turcas will hold the remaining 30 pct.

Other details of the deal, including the assets and services to be contributed by each partner to the joint venture, have yet to be sorted out.

“Shell and Turcas are hopeful that this will be resolved in the next 2-3 months,” said Shell.

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