Corrected: Basell gets green light for Shell refinery buy

05 February 2008 02:58  [Source: ICIS news]

Correction: In the ICIS news story headlined "Basell gets green light for Shell refinery buy" dated 5 February 2008, please read in the second paragraph … 80,000 bbl/day … instead of … 80,000 tonne/year …. A corrected story follows.

SINGAPORE (ICIS news)--The European Commission (EC) said late on Monday it has cleared Basell’s $700m (€469m) acquisition of Shell’s refinery in France.

The commission concluded that the transaction for the 80,000 bbl/year Berre refinery in southern France would not significantly impede effective competition in the European economic area, it said in a statement on its website.

Basell will also buy the infrastructure associated with the refinery (including pipeline and terminals) and the contracts necessary for its operation, the EC added.

Owned by Access Industries in the US, Basell is a polyolefins major. 

($1=€0.67)

By: Florence Tan
+65 6780 4359

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