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Royal Dutch Shell in early stages of selling LPG business
01/08/2005
Royal Dutch Shell, the UK oil major, has recently sent out some sale information to potential buyers of its LPG business. Peter Vosser, the company's chief financial officer, speaking at the group's second quarter 2005 results, said that the group had very recently sent out the teaser. He noted that the firm had received interest from a large number of potential bidders, and that Shell would take the remainder of 2005 and into 2006 to evaluate these bids. Vosser added that the group would only sell the business if any of the bids were deemed to be of sufficient value. Jeroen van der Veer, the company's CEO, noted that the group's LPG business was currently 'producing very good results and returns.' Shell had income of USD 5.2bn (EUR 4.38bn) during the second quarter of 2005.
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