Shell says still committed to Showa Shell stake sale
LONDON, Oct (HKSE: 3366-OL.HK - news) 13 (Reuters) - Royal Dutch Shell (LSE: 0LN9.L - news) said it remained fully committed to selling the majority of its stake in Japanese venture Showa Shell to refiner Idemitsu after the two Japanese entities announced a delay of a planned merger.
"As today's statement from Idemitsu makes clear, there is no change to the timetable for the share sale and it remains subject only to regulatory approval," a Shell (LSE: RDSB.L - news) spokesman said.
Idemitsu and Showa Shell announced the merger delay on Thursday citing to a lack of progress in talks with some of the stakeholders involved. (Reporting by Karolin Schaps. Editing by Jane Merriman)