From Associated Press
HOUSTON (AP) – Fuel wholesaler True North Energy LLC bought 29 Shell-branded retail stations and three supply contracts in the Columbus, Ohio, area, Shell Oil Products US said Wednesday.
Financial terms were not disclosed.
Shell said Toledo, Ohio-based True North Energy will keep the stations under the Shell brand. True North is a joint venture between Shell Oil Co. and The Lyden Co., a family run company that began as a bulk fuel delivery business. True North is Shell’s largest fuel wholesaler, and it will supply 335 million gallons annually to 230 Shell-branded stations in Ohio and Michigan after the deal.
Shell said it put the retail stations on the block in the fall, as it announced plans to focus on its wholesale business and sell retail assets in 16 states.
Royal Dutch Shell PLC’s U.S.-listed Class B shares rose $1.18 to $67.47 in afternoon trading on the New York Stock Exchange.
© 2006 The Associated Press. All rights reserved.
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