Irish Shell snapped up by Ion Equity

SHELL’S network of Irish petrol stations and fuel distributors has been snapped up by venture capital group Ion Equity.

Ion said yesterday it had struck a deal with Shell to buy its retail and commercial businesses on both sides of the border, which include 55 petrol stations, 35 distribution depots and six oil importing facilities in Dublin, Cork, Limerick, Galway, Derry and Greenore in Louth.

The value of the deal, which was agreed after Shell recently decided to exit the business for strategic reasons, was not disclosed.