Shell has ended talks with Unimot over selling German refinery stake

Aug. 27 (Reuters) - British oil major Shell has ended negotiations to sell its stake in Germany's Russia-linked Schwedt refinery to Polish energy group Unimot, Bloomberg News reported on Thursday, citing people familiar with the matter.

Here are a few details:

• The sale discussions, which began in 2023, concluded months ago, the Bloomberg report said.
• Unimot had emerged as one of the possible buyers of a 37.5% stake Shell owns in Germany's PCK Schwedt refinery.
• Shell and Unimot did not immediately respond to a Reuters request for comment outside regular business hours.
• The refinery, majority-owned by Russia's Rosneft, has been a problem for the German government ever since Berlin ended its energy ties with Moscow in response to Russia's invasion of Ukraine.
• Germany put Rosneft's 54.17% stake under trusteeship, essentially giving the government control over the asset while technically leaving ownership in the Russian group's hands — a move that prompted Shell to revive plans to sell its stake.
• According to Bloomberg, Shell and Unimot had been in advanced talks as of February, before ending talks.