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National Business Review (NZ): BOC to buy LPG interest off Shell NZ

ComCom clearance expected in early 2007

Gas supplier BOC is to buy Shell New Zealand’s commercial LPG business, including its shareholding in Liquigas.

BOC says the move augments its existing international investments in LPG which currently generate more than $NZ 1.1 billion annually.

Sue Dale, BOC’s General Manager in New Zealand, says it will also increase the company’s market share and secure its position as a significant market player in New Zealand.

Shell says that while the LPG business is robust and has growth prospects, “it is no longer considered core to SNZ’s retail business.”

The purchase is subject to clearance by the Commerce Commission, with a decision expected in early 2007.

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