Shell Romania cuts capital by $8.9m

Shell Romania will reduce its share capital by about $8.9 million, which reflects the resizing of its portfolio following the sale of 23 gas stations to Hungary’s MOL Group last year, spokesperson Angelica Iva on Monday said. The share capital is to be reduced from $100.5 million to $91.6 million, with the modification pending at the Trade Registry. MOL will take control of all 23 stations by yearend, when Shell Romania’s network will have only 58 gas stations left. As for Shell leaving Romania, the representatives of the Anglo-Dutch group will not comment. “The stories commenting on certain commercial interests related to Shell’s Romanian gas station network are based on rumours and speculations, for which reason we will not comment on them. Shell signed a deal to sell a number of filling stations to MOL last July. The documents to transfer five stations in this contract were signed on Tuesday, April 20, 2004. That may have been stirred some confusion,” Iva said. ZF