Shell to sell 50% stake in Société du Craqueur de l'Aubette to Basell

12-22-2005: Shell Chemicals companies and Basell signed agreements for the sale of Shell Petrochimie Mediterranee's (SPM) 50% share in Société du Craqueur de l'Aubette (SCA) to Basell. SCA owns the ethylene cracker at Berre in southern France and Basell currently holds 50% of the SCA shares. Once the transaction is completed, the cracker will be wholly-owned by Basell.

As part of the agreement, Basell will also acquire the butadiene business of Shell at Berre, including the butadiene assets, as well as logistic assets associated with the cracker operation in Aubette, Berre and Fos.

SPM will continue to operate the cracker, logistic assets and butadiene plant under the terms of the relevant operating agreements with Basell.

The transaction is subject to approval by the relevant antitrust authorities and other customary closing conditions. Completion of the transaction is expected at the end of 2005.