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SANTO DOMINGO. - The president of the company Shell in Dominican Republic said before meeting with government officials to negotiate the sale of that company’s stake in the Dominican Petroleum Refinery that its price is 183 million dollars.
Rafael Madariaga said the company is willing to sell their shares to the Dominican government. He said they’ll listen to Hacienda minister Vicente Bengoa’s position regarding the proposed sale and that they went to the meeting with a positive attitude.
Madariaga was accompanied by three of the company’s international executives, who came to the country yesterday to take part in the talks.
Last week was held the first meeting between Shell’s executives and the government’s representatives, where it was agreed to contract, via an international bidding, to determine the real value of the company’s shares.
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I am a big advocated of free trade, enterprise and capitalism but in this case the RD Gov should do what Chavez would and Nationalized the refinery and offer depreciated book value for the assets discounting the price by $100 million to buy @ $83M. Thereafter, develop a partnership with the Brazil oil producer Petro Brazil.
Leonel should tell them to "take a flying "F$$$" at a rolling donut", back out of the deal altogether andjust assume the role of supervising the heck out of the new "Partners" thereby making tham wish they had never heard of Shell or the DR.