Shell to sell businesses in Finland, Sweden

Royal Dutch Shell said it will sell the majority of its refining and marketing businesses in Finland and Sweden to Keele Oy. The businesses will be sold as going concerns and Shell will receive a total cash payment of US$640 million. The terms of the transaction, which are subject to regulatory approvals, include Shell’s retail business, including some 340 service stations in Sweden and some 225 in Finland as well as its commercial road transport, or CRT, in both markets. All service stations, together with the CRT business, will remain Shell-branded in both markets under a licensing agreement. (October 29, 2010)