Shell and Kuwait Petroleum International announced today that
their respective affiliates have reached an agreement for the
sale of shares in the companies containing the retail, supply
and distribution logistics and aviation businesses in Italy.
The sale is subject to regulatory approval and is expected to
close in 2014.
Under the agreement, Shell's retail network will be rebranded
Shell's non-service station lubricants, marine gas and power,
and upstream businesses in Italy are not impacted by the
sale, and will continue to operate normally. Shell will
continue to operate its lubricants business through Shell
Italia Oil Products, and its gas and power business through
Shell Energy Italia.
The sale is consistent with Shell's strategy to concentrate
its downstream footprint on a smaller number of assets and
markets where it can be most competitive.
Recent divestment examples include the sale of refineries in
the UK, Germany, France, Norway and the Czech Republic; the
sale of downstream businesses in Egypt, Spain, Greece,
Finland and Sweden; and the establishment of a downstream
joint venture across Africa.
All details of the sale are subject to commercial