Shell set to sell 185 UK petrol stations
Oil giant Royal Dutch Shell has agreed to sell 185 service stations in the UK to two Motor Fuel Group and Euro Garages.
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The group, which has announced it will scale down its operations in Italy, Germany and Norway in a bid to cut costs to offset a decline in oil prices, said 68 of its 185 stations would be sold to Euro Garages, while 90 will be taken over by Motor Fuel, which currently manages BP service stations.
The stations will continue to operate under the Shell brand and will sell the oil firm's products for at least five years after the sale is completed, the group said on Monday.
Shell added it expected to sign deals for the remaining stations by the end of the month.
Shell shares were up 0.53% to 2,037.22p at 12:16 on Monday.