Shell subsidiary sells 137 gas stations
Published: Wednesday | November 25, 2009
A Dominican Republic subsidiary of Royal Dutch Shell PLC has sold its 137 gas stations across the Caribbean country to a Barbados-based fuel supplier.
Friday's statement from Shell does not reveal the cost of its deal with the Sol Group, which was formed in 2005 through the purchase of Shell's petroleum distribution and marketing businesses in several Caribbean nations.
It will allow the Sol Group to continue using the Shell brand under a licensing agreement.
Last year, the Dominican Republic paid US$110 million for Shell's stake in the Refidomsa refinery on the outskirts of the capital, Santo Domingo, in a bid to stabilise fuel prices.
- AP
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