By Frederic Tomesco
May 31 (Bloomberg) — Royal Dutch Shell Plc, Europes largest energy producer, said an unidentified suitor may submit an offer for its Montreal refinery before tomorrows deadline for bids.
An interested party has submitted an expression of interest in making an offer, Larry Lalonde, a spokesman for Shell Canada, said today in a telephone interview from Calgary. Some of the terms put forward are a good distance away from being acceptable to us. More negotiations would be required in order to come to an agreement.
Shell said Jan. 7 that it would convert the refinery into an oil-products terminal because the plant no longer fits the companys long-term strategy. The Anglo-Dutch company drew up conversion plans after failing to attract buyers for the refinery, which was offered for sale in July.
Interested parties have until June 1 at 5 p.m. New York time to submit bids, and other bidders may emerge, Catherine Escojido, a spokeswoman for the Survival Committee for the Shell Montreal refinery, said today. The group is trying to halt the refinerys closure.
There are three other companies in the data room, Escojido said in a telephone interview. Nothing would prevent other offers from being made.
Escojido declined to identify the companies. Michael Fortier, the former Canadian minister of international trade, started the committee this year with the cooperation of government officials in Quebec and the City of Montreal.
The 75-year-old refinery processes 130,000 barrels of liquids a day.
–Editor: David Scanlan
To contact the reporter for this story: Frederic Tomesco in Montreal at [email protected].
To contact the editor responsible for this story: David Scanlan at [email protected]
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