Shell announces alliance with SOL Group

Nov. 5, 2004
Royal Dutch/Shell Group announced plans to sell 111 retail service stations and 30 distribution depots in the Caribbean to Sol Group, a petroleum affiliate of Interamericana Trading Corp., Cayman Islands.

By OGJ editors

HOUSTON, Nov. 5 -- Royal Dutch/Shell Group announced plans to sell 111 retail service stations and 30 distribution depots in the Caribbean to Sol Group, a petroleum affiliate of Interamericana Trading Corp., Cayman Islands.

Terms of the transaction were not disclosed. Shell said it was divesting its oil products businesses in Barbados, St. Lucia, Netherlands Antilles, St. Kitts & Nevis, British Virgin Islands, Anguilla, Grenada, St. Vincent, Antigua, Dominica, Belize, Guyana, and Suriname, excluding the aviation business.

The companies being sold include Shell Antilles & Guianas Ltd. and Shell Belize Ltd.
The agreements relate to Shell's retail, commercial, marine, and liquefied petroleum gas businesses.

The sale remains subject to regulatory approval, and completion is expected in early 2005. Sol will use the Shell brand and will be the sole distributor of Shell's fuels and lubricants in this region. In addition, Sol will act as an agent and partner on behalf of Shell Aviation.