November 13 2008

The acquisition of Shell’s shares will be made official next week

SANTO DOMINGO.- The government will close the acquisition process of 50% of the Shell’s shares next week with the delivery of the assets.

The announcement was made today at the National Palace by the Secretary of Finance, Vicente Bengoa, after meeting with President Leonel Fernandez.

“Next week we will close the operation for the acquisition of Shell. We already have the assets, we will convene a press conference next week to inform about the definite closing of the sale of shares”, said Bengoa.

The government will pay Shell 110 million dollars for 50% of the shares the company has in the Dominican Petroleum Refinery.

The acquisition of shares was negotiated by Cesar Pina Toribio, Marino Vinicio Castillo, Abel Rodriguez del Orbe, Mariano German y Viriato Sanchez in representation of the State.

Shell’s committee was represented by Rafael Maradiaga, Charles Marrion, Anne Deborah Langier and Luis Rafael Pellerano.

Source: diariolibre.com

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