By Ed Crooks: Published: October 24 2006 03:00 | Last updated: October 24 2006 03:00
Royal Dutch Shell has delivered a vote of confidence in the potential of Canada’s oilsands by offering to buy out the 22 per cent of its Shell Canada subsidiary that it does not already own at a price 22 per cent higher than lastFriday’s close.
Shell said the purpose of the C$7.7bn (£3.6bn) offer was to continue simplification of its structure that began with last year’s company unification.
Jeroen van der Veer, chief executive, said the deal was an opportunity to integrate Shell Canada fully with its parent company’s strategy and operations.
Until now, he said, it had been pursuing the interests of its shareholders, which did not necessarily fit with Royal Dutch Shell’s global plans.
The deal will add to Shell’s investment in Canadian oilsands, which have this year been hit by concerns over rising costs and the falling price of oil.
James Neale, an analyst at Citi-group in London, said: “Shell is, in essence, taking the high commodity price view. It is formulating a strategy based on the implicit view that oil will stay at around its current levels.”
Analysts said Shell’s confidence in these higher-cost sources of oil could be justified because it was a fully integrated company with its own downstream operations to refine the oil and market the products.
Shell is offering C$40 a share for the minority interest in Shell Canada: a 22 per cent premiumto Friday’s closing price, 29 per cent to the average in the past month, but below the peak atthe beginning of the year of $46.90.
Shell Canada shares rose C$9.75, or almost 30 per cent, to C$42.55 on the Toronto Stock Exchange. Royal Dutch Shell closed 7p lower at 1,810p.
Copyright The Financial Times Limited 2006
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
