Essar Energy is acquiring Royal Dutch Shell’s Stanlow refinery for £219 million, The Wall Street Journal reports. The India-focused integrated energy company will make a separate payment for the crude oil, refined products and certain other inventory on the Stanlow refinery site.
The amount will be calculated by existing market prices at the time when the deal is completed and will be at cost. The deal, which is expected to be completed in the second half of 2011, will give Essar Energy direct access to the U.K. market.
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