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CNNMoney.com: Petroplus buy of two Royal Dutch Shell refineries in France cleared by EU

January 14, 2008: 05:44 AM EST

BRUSSELS, Jan. 14, 2008 (Thomson Financial delivered by Newstex) — The European Commission said it has cleared Petroplus Holdings AG’s (OOTC:PEPFF) proposed acquisition of two French refineries from Royal Dutch Shell PLC. (NYSE:RDS A)

The transaction was reviewed under the EU’s ‘simplified’ merger review procedure for cases which the commission does not believe to pose regulatory concerns.

The Petit Couronne refinery is located 130 km northwest of Paris and produces 40 pct middle distillates and 20 pct gasoline.

The Reichstett Vendenheim refinery is in Alsace and produces 45 pct middle distillates and 20 pct gasoline.

The refineries have a combined capacity of more than 220,000 barrels of crude oil a day.

Petroplus said in August that the acquisition will boost the company’s throughput capacity to 864,000 barrels per day.

Copyright Thomson Financial News Limited 2007. All rights reserved.

http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-22230551.htm

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