April 16 2007
ROYAL Dutch Shell Plc has agreed to buy the 44 gasoline stations in Malaysia operated by ConocoPhillips, expanding its retail network in the country.
Shell will buy the 44 ProJet stations and 14 vacant land sites in Kuala Lumpur, Selangor and Johor states, the company said in an e-mailed statement today.
“Investing in fast growing eastern markets is crucial to business success,” said managing director of Shell Malaysia Trading Mohzani Wahab.
The acquisition will add to Shell’s 830 retail stations in Malaysia.
Shell controls 36 per cent of Malaysia’s gasoline, diesel and lubricant market and is trying to maintain its share of sales amid rising competition from Petroliam Nasional Bhd, the country’s state oil company.
The acquisition, which is subject to regulatory approval, is expected to be completed in the second half of the year and the stations will be rebranded to Shell within six months, the statement said. – Bloomberg
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