A unit of Royal Dutch Shell PLC (RDSB.LN) is in talks with shareholders
and the Czech government over the potential sale of its 16% stake in the
largest refinery in the
Czech
Republic
, a
local news website reported Tuesday citing the Czech industry minister.
"We received an offer from Shell and it's lead to negotiations,"
Industry Minister Martin Kuba said, according to news website Ceska Pozice.
Mr. Kuba, his press office and representatives from Shell weren't immediately
available to comment on the report.
A state acquisition of Shell's stake in Ceska Rafinerska would be logical only
"if it fell into the structure of a future [state-run] petro holding
company, on which we are now finishing conceptual work," Mr. Kuba was
quoted as saying.
The minister is also reported to have said that Shell offered its stake to the
two other shareholders in the refinery, which have an option to purchase the
stake before it's offered to third parties.
Italy
's ENI
Spa (ENI.M) has a 32.4% stake, having doubled its holdings in the refiner in
2007, while Unipetrol AS (BAAUNIPE.PR), the Czech unit of Polish PKN Orlen SA
(PKN.WA), holds a 51% share in the refiner.
PKN and Unipetrol officials said they won't comment, but in the past they have
repeatedly said they would like to increase their stake in the refiner.
ENI
representatives declined to comment.