SOL Group continues acquiring Shell service stations

The SOL Group has signed a Share Purchase Agreement with Shell. The agreement has been signed to acquire the shares of the Shell Company (Puerto Rico) Limited. This transaction is related to retail business of Shell that consists of a chain of 163 service stations and the lubricants businesses in Puerto Rico. Shell Chemical Yabucoa Inc. - the petrochemical plant in Puerto Rico - was excluded from this transaction, so, it remains under Shell management.

In 2005, the SOL Group acquired Shell's fuels businesses in the British Virgin Islands. Shell sold its stations, but stayed the sole distributor of its brand name fuels and lubricants in the BVI market. This was done along with other countries of the Eastern Caribbean region Barbados, St. Kitts & Nevis, St. Lucia, Netherlands Antilles, Anguilla, Antigua, Dominica, Grenada and St. Vincent as well as in Belize, Suriname and Guyana. All in all, in 2005, the world-famous oil company Shell sold its 111 Caribbean service stations and 30 distribution units to the Sol Group.

A very successful year in the Eastern Caribbean market in general (and in the BVI in particular) as well as in Belize, Suriname and Guyana makes the expectations of SOL representatives in Puerto Rico very optimistic.