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Arntzen de Besche has assisted Shell in the completion of the sale of Smart Fuel AS to St1 Nordic Oy

Arntzen de Besche has assisted Shell in the sale of their downstream business in Norawy. The transaction was completed 1th October 2015.

The agreement includes sale of Shell’s retail, commercial fuels and supply and distribution logistics businesses in Norway. The Shell brand will continue to be highly visible in Norway through a retail brand licence agreement, and Shell fuels and lubricants will continue to be sold at the 404 retail sites which will transfer to St1’s ownership. Additionally, Shell and St1 have joined forces to create Aviation Fuelling Services Norway AS, a joint venture to sell aviation fuel in Norway.
The sale was announced in December 2014 and is now approved by the Norwegian competition authority. As a condition to take over Smart Fuel, ST1 is obligated to sell their existing ST1 retail sites to an independent buyer. The aviation fuelling joint venture was approved by the European Commision in June 2015.
The AdeB team has consisted of  Per Andre Dagslet (M&A), Stein Ove Solberg (antitrust), Anders Voje Heieren (tax) and Sven Iver Steen (employment and pension).