Jul 05 - Aramco Acquires Additional Shares in Showa Shell

Source Press Release
Company Saudi Aramco 
Tags Refining & Marketing Activities
Date June 20, 2005

Aramco Japan Holdings Company B.V., a subsidiary of Saudi Arabian Oil Company ("Saudi Aramco", the national oil company of Saudi Arabia) today acquired an additional 18,840,000 shares in  Showa Shell from Royal Dutch/Shell Group,  Saudi Aramco acquired a 9.96% strategic shareholding in  Showa Shell Sekiyu K.K. ("Showa Shell") from Royal Dutch/Shell Group pursuant to an Agreement signed in July 2004. At that time,  Saudi Aramco agreed in principle to acquire the additional shareholding (subject to satisfaction of certain commercial conditions), to enhance its longstanding partnership with the company's largest shareholder, Royal Dutch/Shell Group, and strengthen  Showa Shell's refining and marketing business in Japan.

As a result of completion of this share transfer, Saudi Aramco now holds 14.96% of  Showa Shell shares, while Royal Dutch/Shell Group holds 35.04%.

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd