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Topaz to merge Statoil with Shell

Topaz to merge Statoil with ShellBy Geoff Percival TOPAZ — the consortium which has, subject to Competition Authority approval, bought Statoil Ireland for an estimated €285 million — is planning to merge its newly acquired business with Shell Ireland, which it purchased last year, for an undisclosed sum. The overall business will still be run on a twin-branding footing for the medium term, meaning there will still be Statoil and Shell garages with both owned by the same company. A decision on the visible merging of the two brands will be explored down the line. The Statoil acquisition includes all of the Norwegian company’s fuel distribution business in Ireland, including oil importation facilities in Dublin, Cork and Galway, 12 regional depots and 69 retail service stations.

Posted Date: 
25 June 2006 - 8:02pm