Shell Faces Further Delay to Germany Refinery Stake Sale, Reuters Reports
--Shell's plans to sell its 37.5% stake in the Schwedt refinery in Germany to the U.K.'s Prax Group is being delayed by pending lawsuits by third parties, Reuters reports, citing unnamed sources.
--Under the terms of the initial agreement, the two parties need to agree on an extension or renegotiate if the deal isn't completed by mid-September, Reuters writes.
--The pending lawsuits delaying the sale of the stake--valued at around 155 million-190 million euros ($172.3 million-$211.3 million)--include an attempt by the owner of the refinery, Russian energy company Rosneft, to prevent the sale, according to Reuters.
--Shell and Prax Group did not immediately respond to Dow Jones Newswires' request for comment.
Full story: https://tinyurl.com/5t3mmxy4
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
September 19, 2024 11:01 ET (15:01 GMT)
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