Shell and Alliance established fuel retail joint venture in Ukraine
Shell International Petroleum Company Ltd (Shell) and OJSC Alliance Group (Alliance) have completed the establishment of a joint venture to operate a network of approximately 150 Shell-branded retail sites in Ukraine.
This is an important milestone reached by Shell and Alliance after they announced their commitment to set up a joint venture in March 2007. The formal approval from the government was the final step for completion of the deal and the establishment of the joint venture. The joint venture officially starts its operations on 21 August. Shell has operational control with 51% share and Alliance a 49% share in the newly established joint venture.
Start of operations assumes a gradual take over of retail sites under joint venture operational control, a process that will start with immediate effect and is expected to be completed over a period of two months. All retail sites will be upgraded to meet Shell worldwide operational standards for safety and environmental protection.
This will allow Ukrainian motorists to purchase fuel at Shell-branded sites, joining millions of customers of the world’s largest retail fuel network, who experience the Shell commitment to product quality and high service standards every day at 46,000 Shell-branded retail stations in 90 countries world-wide.
The newly appointed General Director of the joint venture Christo Ivanchev said: “The joint venture will offer customers the benefits of Shell’s global experience, combined with Alliance’s strong local knowledge and extensive presence on the Ukrainian fuel retail market. It will give us a considerable advantage in responding to customer needs and offering product quality and high service standards. We count on the professionalism of our staff to help us to deliver on our value promise to customers and to make a difference. ”
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