Royal Dutch Shell seeks buyers for 260 gasoline stations in Canada
18 May 2011
Royal Dutch Shell yesterday said that it is looking for a buyer for its 260 retail gasoline stations in Canada as part of the oil giant's plan to sell $5 billion of assets this year.
Out of the around 1,600 gas stations Shell has in Canada, the Hague, Netherlands-based company plans to sell 260 retail gasoline stations in Quebec and the Maritime provinces in Eastern Canada.
The company is looking for a buyer who will operate the stations under the Shell banner since it has an established brand name. The 260 retail gasoline stations have convenience food stores, car washes and other customer-driven services.
Shell said that the sale will exclude five joint venture sites and 190 reseller outlets in the region.
"This is an exciting business opportunity," said David Saint-Laurent, Shell Canada's general manager for retail operations. "With the high quality of entrepreneurs in Quebec and the Maritime provinces, we are confident of finding a worthy steward or stewards of the Shell brand with whom we will grow."
Last month, Shell agreed to sell most of its downstream business in Chile to Quinenco S.A., which included a retail network of about 300 sites. These sites will also continue to be under the Shell banner under a trademark license agreement.