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MarketWatch: Shell sells Autoserv in Thailand, Malaysia to Bridgestone

By MarketWatch
Last update: 8:34 a.m. EST Feb. 4, 2008

BANGKOK (MarketWatch) — The Thai unit of Royal Dutch Shell PCL said Monday it has agreed to sell its “Autoserv” car maintenance chain in Thailand and Malaysia to units of Bridgestone Corp. (5108.TO).

The agreement covers 64 outlets in Thailand and eight outlets in Malaysia, The Shell Co. of Thailand Ltd. said in a statement.

Financial terms of the deal weren’t disclosed. The Autoserv business provides car maintenance services including tire and lubricant sales.

“This divestment has no impact on Shell’s other businesses in the country. The company remains a major investor in Thailand’s oil industry,” said Shell Thailand Chief Executive Surasak Kosadat.

The Thai outlets were sold to Bridgestone Corp. Holdings Thailand and the Malaysia outlets were sold to Bridgestone Tyre Sales (Malaysia) Bhd.

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