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Reuters: Petroplus to buy two French refineries from Shell

Thu Aug 2, 2007 1:29AM EDT

ZURICH, Aug 2 (Reuters) – Swiss-based oil refiner Petroplus said on Thursday it planned to acquire two refineries in France from Royal Dutch Shell for $475 million, excluding net working capital.

Petroplus said it intends to buy the refineries at Petit Couronne and Reichstett Vendenheim, which have a combined total nameplate crude capacity of 239,000 barrels per day.

Net working capital in the agreed purchase prices is expected to be about $400 million.

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