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AFX UK (Focus): Royal Dutch Shell to retain LPG marketing and distribution business

Mar 17, 2006
LONDON (AFX) – Royal Dutch Shell PLC said it will retain its global Liquefied Petroleum Gas (LPG) marketing and distribution business within its downstream portfolio.
Following an unsolicited offer for the business from an interested buyer, the group decided to review its options last year.
In December, Repsol YPF SA said it presented a binding offer for the business, confirming a report in La Gaceta de los Negocios. The paper said the offer was valued at 2.5 bln eur.
Shell said it sold some parts of the LPG business, including Portugal, parts of the Caribbean, Brazil, Paraguay and Italy, for about 350 mln usd.
The decision to retain the business has no impact on the divestment plan as the group achieved its target of 12-15 bln usd by end 2005, it said.
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