Clifford Chance (CC) has won a key instruction from Shell Petroleum on a major divestment of the oil giant’s downstream Portuguese assets.

The deal sees oil and gas company Repsol take on a number of Shell’s oil products interests in Portugal, including 303 retail service stations and a portfolio of distribution assets throughout the region, in a move that also hands Repsol a 15% stake in Compania Logistica de Combustibles.