Unipetrol acquire Shell’s 16.3 pc stake in Ceska Rafinerska

Unipetrol to acquire Shell’s 16.3 pc stake in Ceska Rafinerska

5:52 AM, 13th November 2013
Unipetrol to acquire Shell’s 16.3 pc stake in Ceska Rafinerska

PRAGUE, CZECH REPUBLIC: Unipetrol, Czech downstream oil group, has agreed to buy partner Royal Dutch Shell’s 16.3 per cent stake in Ceska Rafinerska for $27.2 million, boosting its stake in the country’s only refinery to 67.6 per cent. Ceska Rafinerska runs refineries in Litvinov and Kralupy and has a total conversion capacity of 8.7 million tonne of crude oil per year. The acquisition is expected to be completed in the beginning of 2014.

“The transaction brings Unipetrol to 67.5 per cent threshold, allowing significant improvement of the company’s operational management and bringing operational costs savings,” said Marek Switajewski, Chief Executive, Unipetrol.


© Reuters News



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