Original article by Andrew Burrell
The Australian – Page: 21 and 25 : 18-Jun-14

Royal Dutch Shell will receive $US2.68bn ($A2.86bn) from Australian-listed Woodside Petroleum, for 9.5% of the latter’s stock at a price per share of $A36.49. Shell will also divest a tranche of the same size at $A41.35 to institutional investors, and reduce its holding in Woodside to no more than 4.5%. The Australian Taxation Office has given Woodside permission to use franking credits in order to lower the price by 14%. CEO Peter Coleman notes the more efficient capital structure being created by the stock repurchasing move, and says it will have no adverse impact on exploration or acquisitions

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, AUSTRALIAN TAXATION OFFICE, GOLDMAN SACHS AUSTRALIA PTY LTD, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD, MORNINGSTAR PTY LTD, PLATO INVESTMENT MANAGEMENT LIMITED, PATERSONS SECURITIES LIMITED