Denmark, May 02, 2016 – Shell today said it has completed the sale of Dansk Fuels in Denmark to Couche-Tard for approximately $300 million including working capital.
Dansk Fuels comprises Shell’s Retail, Commercial Fuels, Commercial Fleet and Aviation businesses, and products distribution activities associated with those businesses.
According to Shell, the company will now be owned by Circle K Denmark A/S (formerly Statoil Fuel and Retail A/S), which is a subsidiary of Couche-Tard.
Shell signed an agreement to divest the business in March 2015. Completion of the transaction follows regulatory approval from the European Commission, it said, adding that Shell brand will continue to be visible in the country through a Trademark Licence Agreement with Dansk Fuels and that the euroShell card scheme will remain in place.
It noted that the sale is consistent with Shell’s strategy to concentrate its downstream footprint on assets and markets where it can be most competitive but that Shell’s Upstream business in Denmark is not impacted by the development.
