NewsWhore
11-20-2009, 05:50 PM
The Shell Company announced yesterday that it signed a sales agreement for its businesses in the DR with the Grupo Sol, with the exception of Lubricantes Dominicanos (Lubridom). Even though the multinational company did not reveal the amount involved in the sale, it reported that the deal has not yet been finalized. The agreement includes Shell's service stations, industries and businesses. The sale also includes the distribution of products and lubricants as well as the continued use of the Shell brand name under a licensing agreement.
The Marti and Vicini groups took part in the transaction, each one with around a 30% share. On the 10 June 2008, Shell's representative in the country Rafael Maradiaga told Diario Libre that they were negotiating the sale of their 137 gasoline stations and that whoever bought them would have to pay royalties, as is the case with any other global brand.
In a brief statement, the Shell Company pointed out that the sale of these businesses will permit it to focus its investments in areas where it can substantially grow and at the same time it will enable investors in the DR to continue operating and serving this important market.
"Completing and closing the sale depends on both parties, Sol and Shell, fulfilling certain agreed requisites," reported the Sol Group, which is from Barbados and which was set up through the acquisition of Shell's distribution and retail outlets (service stations) in the Eastern Caribbean, Guyana, Suriname and Belize in February 2005. Sol acquired The Shell Company in Puerto Rico in August 2006, which became known as Sol Puerto Rico Limited. Sol purchased most of Esso's assets in Suriname and Guyana in November 2007 and in Haiti on 29 February 2008.
More... (http://www.dr1.com/index.html#5)
The Marti and Vicini groups took part in the transaction, each one with around a 30% share. On the 10 June 2008, Shell's representative in the country Rafael Maradiaga told Diario Libre that they were negotiating the sale of their 137 gasoline stations and that whoever bought them would have to pay royalties, as is the case with any other global brand.
In a brief statement, the Shell Company pointed out that the sale of these businesses will permit it to focus its investments in areas where it can substantially grow and at the same time it will enable investors in the DR to continue operating and serving this important market.
"Completing and closing the sale depends on both parties, Sol and Shell, fulfilling certain agreed requisites," reported the Sol Group, which is from Barbados and which was set up through the acquisition of Shell's distribution and retail outlets (service stations) in the Eastern Caribbean, Guyana, Suriname and Belize in February 2005. Sol acquired The Shell Company in Puerto Rico in August 2006, which became known as Sol Puerto Rico Limited. Sol purchased most of Esso's assets in Suriname and Guyana in November 2007 and in Haiti on 29 February 2008.
More... (http://www.dr1.com/index.html#5)