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Saturday, July 16, 2005
Oil giant Shell has sold all its retail and distribution operations in Ireland to a distribution and logistics firm called Topaz. The businesses, which are believed to have an annual turnover of over €1bn, include 35 local distribution depots, 6 oil importation facilities, 55 retail service stations and the supply of fuel to 105 independent service stations throughout Ireland.
Shell is retaining its interest in the Corrib Gas field in County Mayo which it is currently developing. Shell has been known for some time to be anxious to exit the increasingly competitive Irish market. Since the arrivial of Tesco to the petrol retail market last year, a price war has raged in parts of the country. Althought Tesco only operates a limited number of stations in the republic, it has expressed a desire to expand throughout the country.
Ion Equity are the consortium behind the takeover which according to the Irish Independent is valued at over €100m. The business will be headed by former Emo Oil managing director Danny Murray.
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This page is archived, and is no longer publicly editable.
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Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
The text of this article has been released into the public domain. In the event that this is not legally possible, this article may be used for any purpose, without any condition, unless such conditions are required by law. This applies worldwide. Copyright terms on images, however, may vary, so please check individual image pages prior to duplication.
