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Forbes/AFX News Limited: Shell to buy out BP's 50 pct stake in Kenya JVs for undisclosed sum

Shell to buy out BP's 50 pct stake in Kenya JVs for undisclosed sum

 

AMSTERDAM (AFX) – Royal Dutch Shell PLC unit Shell Petroleum Co Ltd said it has signed an agreement to acquire BP PLC's stake in their 50:50-owned oil products marketing joint venture companies in Kenya.

 

Shell did not disclose any financial details of the deal, saying that the commercial details are confidential.

 

The joint venture companies include Kenya Shell Ltd, BP Kenya Ltd and Shell & BP (Malindi) Kenya Ltd.

 

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