Shell in $2.2bn energy selldown

Original article by Bridget Carter, Matt Chambers
The Australian – Page: 17 : 14-Nov-17

Royal Dutch Shell is no longer a substantial shareholder in Woodside Petroleum, after selling a $A2.23bn parcel of shares in the oil and gas group. The transaction has reduced Shell’s stake from around 13 per cent to 4.8 per cent, and was part of its strategy of divesting $A30bn worth of assets over three years. Shell’s stake in Woodside has been progressively reduced from about 34 per cent since 2010, and the latest sell-down has capitalised on a rally in the crude price in recent months. Woodside shares closed $A0.33 lower at $A32.24 on 13 November.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, UBS HOLDINGS PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, BHP BILLITON LIMITED – ASX BHP, BG GROUP PLC

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