ULTRAMAR SELLS U.K. MARKETING UNITS FOR 50 MLN STG
Ultramar Plc <UMAR.L> said it had reached
agreement in principle to sell its wholly owned U.K. Marketing
companies to Kuwait Petroleum Corp for around 50 mln stg.
    Ultramar's marketing units include <Ultramar Golden Eagle
Ltd> which in 1985 made a profit of around 1.4 mln stg before
financing and group administration charges. A small loss was
recorded for the first nine months of 1986.
    The sale is due to take place on April 1 with the proceeds
intended to reduce group debt in the short term. But Ultramar
said the funds would ultimately be used for further development
of its core businesses in the U.K. And North America.
 REUTER
