Government tender on Shell's 50%

[NewsWhore]

The government has announced that it will open bidding for companies interested in appraising the value of the Shell's 50% stake in the Dominican Refinery (Refidomsa). The announcement was made by Vicente Bengoa, the Minister of the Hacienda, after a long meeting with Shell Company officials. Bengoa stressed that the Dominican government wanted negotiations to proceed with transparency, adding that discussions would be ongoing in order to work out all the procedures for the sale of Shell's shares. According to the minister, the government has made an offer of US$184 million for the remaining 50% of the shares in the refinery. Shell spokesperson Rafael Maradiaga told reporters that negotiations with the government are not that simple since there is a contract that must be strictly observed. Maradiaga was accompanied by chief Shell Company adviser Charles Mayer, and several assistants.

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