Nordic Business Report-December 20, 2006-Neste Oil Corporation divests stake in CanTerm Canadian Terminals Inc (C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com Finnish oil refining company Neste Oil Corporation said on Wednesday (20 December) that it has divested its 25% stake in CanTerm Canadian Terminals Inc, which owns and operates terminals for petroleum and chemical products in Quebec City and Montreal, Canada. Neste Oils stake was acquired by Olco Petroleum Group Inc, a Canadian petroleum product supplier and marketer. Following the transaction Olco became CanTerms sole owner. At the same time Olco also purchased Neste Oils petroleum products direct sales distribution business in Ontario. Neste Oil recorded a small capital gain on these two divestments. No financial details were provided. Neste Oil said that these divestments of non-core assets underline the companys strategy of focusing business on two growth areas, oil refining and premium-quality biodiesel. Neste Oil is a refining and marketing company focusing on traffic fuels. The company has two refineries in Finland, operates a service station chain and has a fleet of some 30 ships. Neste Oil is listed on the Nordic Exchange in Helsinki. ((Comments on this story may be sent to [email protected]))