Tue 17 Mar 2015 12:43

Couche-Tard buys Shell's marketing operations in Denmark


Downstream operations are to be managed by Statoil Fuel and Retail A/S. Oil major seeks buyer for Fredericia refinery.

Shell has today confirmed in a statement that it has reached agreement with Alimentation Couche-Tard Inc. (Couche-Tard) for the sale of its marketing operations in Denmark, comprising retail, commercial fleet, commercial fuels, aviation and connected trading and supply products businesses. The businesses are to be managed by Statoil Fuel and Retail A/S (SFR), a wholly owned indirect subsidiary of Couche-Tard.

Shell's upstream business in Denmark is not impacted by the agreement. Separately, Shell says it is seeking a buyer for its 68,000-barrel-per-day Fredericia refinery.

The deal includes a trademark license agreement, under which the Shell brand is to remain "highly visible" in Denmark through the Shell-branded retail network and in the fuels wholesaling sector. Lubricants will continue to be delivered via a separate distributor agreement with Univar, Shell said.

The sale is subject to regulatory approvals and is expected to be completed in 2015.

Details of the sale agreement price were not disclosed and were said to be "commercially confidential".
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