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Shell To Sell Its Downstream Marketing Business In North Pacific Islands
The agreement covers the sale of Shell’s retail, commercial and aviation businesses owned by Shell Guam Inc. and Shell Company (Pacific Islands) Limited. Under the terms of the deal, the retail network will remain Shell-branded through Trademark Licensing Agreements, while aviation will be serviced through an Aviation Technical Service Agreement.
Under separate agreements, the buyer will also be appointed as distributor of Shell-branded lubricants and servicing Shell Marine Product customers for NPI markets. The decision by Shell to move to a distributor model supports its portfolio focus drive and follows a number of similar deals in other countries. The agreement is also subject to regulatory clearance.
The purchase of Shell’s downstream marketing business in the North Pacific adds to the Delgado family’s portfolio of investments in the region. Upon the completion of this transaction, the family would have invested approximately $150m in the region from the time it acquired Verizon’s fixed and wireless assets in 2005. The Sumitomo Corporation of Japan, one of the largest Japanese trading companies, is the family’s strategic partner in IT&E, the leading telecom company in the North Pacific islands.
Notes to editors:
About Royal Dutch Shell
Royal Dutch Shell is a global leader in the downstream business. The company has some 4 million barrels of crude oil per day of world wide refining capacity. Shell is the world's largest single branded fuels retailer with some 46,000 service stations worldwide, and operations in some 90 countries and territories around the world.
About Shell Guam Inc. & Shell Company (Pacific Islands) Limited (Shell NPI)
Shell NPI has been providing high quality fuels and professional services in the North Pacific region for 21 years. Shell Guam Inc. was incorporated in Guam on December 1st, 1987, when Shell purchased the assets of the Guam Oil & Refining Company on November 30, 1988, currently known as the Agat Terminal. Since it’s inception Shell NPI has grown into a diversified business servicing governmental agencies and consumers with petroleum storage and the sale of commercial and retail products and services.
About IP & E Holdings LLC.
Is a subsidiary of Prospector Investments Limited, a member of the Delgado group of companies that includes Citadel Holdings in the Philippines. The Delgado group owns a diversified private equity holding and management company that had its beginnings in the petroleum industry as far back as the 1940’s. Today it has investments in Aviation Services, Logistics Solutions, Telecommunications, and Fuels & Lubricants Supply & Marketing.
For more information about Shell, visit www.shell.com.
Roberto S. Kanapi
Vice President for Communications
Pilipinas Shell Petroleum Corporation
IT & E and also IP & E
Tel. 671. 922.4454
Fax 671.646 4723