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Article: Qatar buys stakes in Shell Chemicals JV.
- Article from:
- Khaleej Times (Dubai, United Arab Emirates)
- Article date:
- November 12, 2009
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Summary: SINGAPORE - Qatar Petroleum International (QPI) and Shell Eastern Petroleum Pte Ltd have sealed agreements in which QPI takes stakes in two Shell Chemicals joint ventures in Singapore, its first overseas downstream acquisition, the companies said on Wednesday.
Under the deal, to be completed by December, Shell will sell its existing shareholdings in two companies to a new joint venture called QPI and Shell Petrochemicals (Singapore) Pte Ltd (QSPS).
Through the venture, QPI and Shell will effectively hold 50 percent of the Petrochemical Corporation of Singapore (PCS) and 30 percent of The Polyolefin Company (Singapore) Pte Ltd (TPC).
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