Shell sold its oil products businesses in Spain

Shell and Disa Corporación Petrolífera, S.A. ("Disa") have signed a Sale and Purchase Agreement relating to the divestment of Shell's Oil Products businesses in Spain, excluding its LPG, Lubricants, Aviation and Marine businesses.

The divestment includes a network of 338 retail service stations in Spain, a 5% stake in Compañía Logística de Hidrocarburos CLH, S.A. and distribution assets geographically spread across Spain. The sale is subject to regulatory approval and completion is expected to take place by the end of 2004.

Disa will continue to use the Shell brand under a Trademark Licence Agreement, thereby minimising disruption to dealers and customers, and maintaining awareness of the Shell brand in the country. Furthermore, euroShell fuel card customers will continue to have access to the network in Spain and internationally, and Disa has an arrangement to supply Shell lubricants in the acquired retail sites.

The sale required a full de-merger being undertaken of Shell's downstream business in Spain and follows the recent sale of Shell's downstream assets in Portugal.

Uría & Menéndez advised DISA through Coloma Armero (partner, Corporate, Madrid) and Antonio Villacampa (senior associate, Corporate, Madrid).

Commenting on the deal to Latin CounselColoma Armero said "This has been a landmark transaction due to its singularity and complexity, and it was a pleasure for us to work with Shell and its advisers".

Clifford Chance advised Shell on the divestment of a number of its downstream assets in Spain and also in Portugal.

Shell's legal team was led by in-house legal counsel, Ralf Marxen. The Clifford Chance team was led by Geraint Hughes (Energy Sector Partner - London) and José María Fernández Daza (Partner - Madrid) with principal assistance from Teresa Martín (Associate - Madrid), Ignacio Blanco (Associate - Madrid), Louise Groom (Associate - London), Camiel de Vries (Associate - Amsterdam) and Katie Dickinson (Trainee - London).

Shell's anti-trust team was led by in-house legal counsel Emily Roche and assisted by Charles Bankes (Partner) and Will McManus (Associate) at Simmons & Simmons in London, assisted by their local office.