Shell completes sale of downstream businesses in Greece

Shell and Motor Oil (Hellas) Corinth Refineries S.A announced the completed sale of Shell’s downstream businesses in Greece and an agreement for the continued use of the Shell brand in the Greek market. The sale includes Shell’s retail, commercial fuels, bitumen, chemicals, supply and distribution, and liquefied petroleum gas (LPG) businesses, as well as a lube oil blending plant. The purchase price is €245.6 million (US$309.54 million). With the completion of the agreement, Shell Hellas A.E.’s company name will change to Coral A.E. (July 1, 2010)