14 December 2004 – LAWFUEL – First for law news – Global Law Firm Clifford Chance advised Shell Gas on the sale of its liquefied petroleum gas (“LPG”) business in Portugal.
Shell and Repsol Butano S.A. have signed a Sale and Purchase Agreement relating to the divestment of Shell Gas (LPG) Portugal and its subsidiaries and shareholdings.
The divestment includes the assets of two LPG filling plants, more than two million cylinders, supply, distribution and customer contracts covering mainland Portugal and the islands of Madeira and Azores. The sale is subject to regulatory approval and completion is expected to take place in the first quarter of 2005.
Shell will continue to operate in Portugal through its Lubricants business and the Madeira distribution terminal (Madeira Praia Formosa S.A.).
Shell’s legal team was led by in-house legal counsel, Martin Bambridge, with competition law aspects led by Emily Roche. The Clifford Chance team was led by Andrew Grenville (Partner) in London with principal assistance from senior associate John Wilkins and competition lawyers, Oliver Bretz (Partner) and senior associate Sonya Branch.
Clifford Chance also advised the Royal Dutch/Shell Group of Companies on the divestment of other assets in Portugal, and also in Spain, earlier this year. In June 2004, Clifford Chance advised Shell Petroleum Company Limited on the divestment of Shell’s Oil Products businesses in Portugal to Repsol YPF and, in September 2004, Clifford Chance advised Shell on the divestment of part of Shell’s Oil Products businesses in Spain to Disa Corporación Petrolífera, S.A.