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Detail – Energy Country Profile

Shell sells 16% stake in Czech refining company to partner

Unipetrol has signed a share purchase agreement (SPA) with Shell to acquire from Shell 152,701 shares of Česká rafinérská, amounting to 16.335% of the Česká rafinérská’s share capital. The acquisition price for the shares amounts to US$27.2m.


Česká rafinérská operates refineries in Litvínov and Kralupy (Czech Republic), currently the only two running refineries in the Czech Republic, with a total conversion capacity of 8.7 Mt/year of crude oil The company is a joint venture of three shareholders: Unipetrol with 51.22%, Eni with 32.445% and Shell with 16.335%. It was established in 1995 and started operating in the processing mode with no sales activities as a cost-plus entity in 2003.

After completion of the transaction expected at the beginning of 2014 Unipetrol shareholding interest will increase to 67.555% of the share capital.

Source: 13 November 2013