St1 Nordic Oy has signed a contract with Shell Exploration and Production Holdings B.V. on the purchase of Smart Fuel AS shares. Smart Fuel AS operates a service station network and direct sales business in Norway through own terminal network. Moreover, St1 Group Oy will launch an aviation fuel joint venture with Shell in Norway.
The transaction is subject to regulatory approval. The deal is expected to be closed in the second half of 2015. The commercial terms of the transaction are confidential.
St1 has also concluded a long-term licensing agreement on the use of Shell trade mark in the Norwegian market to continue provision of current services for clients.
This deal will further strengthen St1's position as a Nordic energy company. In future, St1's expanding service station network will provide high quality environment-friendly products and services for clients through more than 1,500 retail stations in Finland, Sweden and Norway.
St1 Nordic Oy, Mika Anttonen, Chairman of the Board of Directors, tel. +358 40 5009798
St1 is a Finnish energy group whose vision is to be the leading producer and seller of CO2-aware energy. The company researches and develops economically viable, environmentally sustainable energy solutions. St1’s energy services and products cover everything from wind power to high-concentration ethanol RE85 produced from biowaste and residues. St1 has bioethanol plants in Finland, an oil refinery in Gothenburg, Sweden, as well as a network of 1100 St1 and Shell branded retail stations in Finland and Sweden and St1 branded retail stations in Norway.
Headquartered in Helsinki, the company employs currently over 550 people in Finland, Sweden and Norway.