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Reuters: Shell to form Ukraine retail venture

Thu Mar 29, 2007 3:03 PM BST

LONDON, March 29 (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile , Research) said on Thursday it planned to establish a joint venture with OJSC Alliance Group to operate a network of more than 150 Shell-branded retail sites in the Ukraine.

Rob Routs, Executive Director of Shell’s downstream business, said in a statement the new venture would capitalise on Ukraine’s large population, growing GDP and its strategic location.

The new venture, in which Shell will have a 51 percent share and Alliance a 49 percent share, comes as Shell has scaled backed retail operations in some other countries where the company has deemed these to be too small to be strategic.

Alliance’s existing sites in Ukraine will be upgraded and re-branded as Shell sites, Shell said.

© Reuters 2007. All Rights Reserved.  |

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