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LONDON -- Shell U.K. Limited will acquire 254 petroleum retail sites in the United Kingdom from Rontec Investments LLP (the Snax 24 Consortium) for roughly $400 million. This deal marks the biggest single expansion of Shell's petroleum station network in the UK, where the company has marketed its fuels to motorists for nearly 100 years.
The addition of these new stations, which are mostly in the Midlands and South East of England, fit well with Shell's existing national network and will enhance Shell's position as a leading fuels retailer in the UK, with 1,150 stations, according to a company news release.
"The deal with the Snax 24 Consortium fits Shell's global downstream strategy of pursuing opportunities in selected markets where we see prospects for growth," stated Mark Williams, downstream director.
John Bullock, Shell's executive vice president, retail, added: "Shell is pleased to be investing in our retail business in the UK, a very competitive market. With this improved network of petrol stations, Shell will be able to provide more people with a top-quality customer offer including quality branded fuels, in a convenient location and at a competitive price, helping us compete for the long term."
The agreement with the Snax 24 Consortium is expected to be completed around year-end, and is subject to the satisfaction of regulatory and other conditions.
Royal Dutch Shell plc is incorporated in England and Wales, and has its headquarters in The Hague, Netherlands. Shell companies have operations in more than 100 countries and territories.