Neste Oil to sell retail stations in Poland to Shell for EUR 80mn.

By bne IntelliNews December 14, 2012
Neste Oil and Shell have signed an agreement that Shell Polska will buy Neste Oil's station network in Poland for the price of around EUR 80mn, according to Neste Oil's press release. The agreement covers 105 sites, all of which are unmanned and located in major cities, as well as Neste Polska's 25 employees, who will transfer to Shell. Neste Polska had net sales of around EUR 250mn in 2011. The transaction is subject to the approval of the local competition authorities, and is expected to be closed in H1 of 2013, the firm also reported. Local media earlier reported that Poland's second-biggest oil concern Grupa Lotos is one of the entities that started negotiations with Neste Oil on the purchase of its petrol stations. Experts earlier cited by the media, expected the price to not exceed EUR 50mn.
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