THE PRAX GROUP AND SHELL DEUTSCHLAND GMBH DECIDE NOT TO PROCEED WITH THE PCK SCHWEDT REFINERY TRANSACTION
After careful consideration, the Prax Group ("Prax") and Shell Deutschland GmbH ("Shell") have announced that further to the signing of a Sales and Purchase Agreement (SPA) last December for Prax to acquire a 37.5% interest in PCK Schwedt Refinery ("PCK") and its associated logistic assets from Shell, both parties have taken the decision not to proceed with the transaction.
Located in the Berlin-Brandenburg region north of Berlin, PCKshall continue to operate as normal.
| Ends |
Notes to Editors
About The Prax Group:Headquartered in the UK, the Prax Group is a British multi-national, independent global energy conglomerate dealing in petroleum products and bio-fuels. The Prax Group has a complete integration across the whole oil value chain, from upstream to midstream and downstream, with offices in London, Houston and Singapore. The Group strives to limit its carbon footprint and to embrace the advent of transitional fuels.
Enquiries:
The Prax Group
York House
45 Seymour Street
London W1H 7JT
United Kingdom