Repsol YPF buying Shell's LPG business in Portugal

Repsol YPF SA agreed to buy Royal Dutch/Shell Group's LPG business in Portugal. Shell will continue to operate in Portugal through Madeira Praia Formosa SA, a lubricants business and distribution terminal.

Dec. 10, 2004

By OGJ editors

HOUSTON, Dec. 10 -- Repsol YPF SA agreed to buy Royal Dutch/Shell Group's LPG business in Portugal. Shell will continue to operate in Portugal through Madeira Praia Formosa SA, a lubricants business and distribution terminal.

The sale, subject to regulatory approval, is expected to close in the first quarter of 2005. The terms were not disclosed.

The divestment includes two LPG filling plants, more than 2 million cylinders, and supply and distribution contracts covering mainland Portugal and the islands of Madeira and Azores.