Shell further reduces its interest in Woodside

Sale is part of a US$30bn debt reduction programme

Staff members work at the booth of Royal Dutch Shell at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017.

Shell, which has been slowly divesting its Woodside holding, said on Monday its Shell Energy Holdings Australia Limited (SEHAL) unit had struck a deal with two investment banks over the sale of 71.6 million Woodside shares for A$31.10 ($23.79) apiece. Due to strong demand from equity investors, however, Shell announced in a separate statement today it would sell 111.8 million shares for pre-tax proceeds of $2.7 billion (A$3.5 billion).

The sale represents 64 per cent of Shell's stake in Woodside and 8.5 per cent of Woodside's issued capital, Shell said.

Shell decided that due its reduced holding it was no longer having any significant influence over Woodside and changed its stake from an associate holding to an investment.

Number of George HW Bush Accusers Now Stands at 6
Corrigan is the sixth woman to come forward since October 24, saying the former leader grabbed them from behind while posing for a photo.

Bill Gates is building a "smart city" in Arizona
He's coming to Arizona, ' he told KPNX. "Finally Arizona's being recognized for being a place for innovation", Schott added. Belmont (as the town will be called) will feature 80,000 residential units, public schools, and commercial buildings.

Michael Bublé Announces Croke Park Gig
SINGER Michael Bublé has announced his first United Kingdom date since his son was diagnosed with liver cancer last November. The singer will take the stage on Saturday July 7th, for what is guaranteed to be an unforgettable night.

The sale "is another step towards the completion of our three-year $30 billion divestment programme, which is an important part of our strategy", said Shell's Chief Financial Officer Jessica Uhl, adding that the proceeds would help to cut the group's debt.

Even before Shell set out to sell assets, it was distancing itself from Woodside.

Shell "A" shares were up 0.7% on Monday at 2,435.00 pence, with "B" shares up 0.7% at 2,475.00p. Shell was blocked from taking over Woodside by then Treasurer, Peter Costello in a bid worth $US5.1 billion.

Related News:



Most liked

Commissioner Claims UFC Pulled Conor McGregor from Year-End Fight Card
THE lead regulator for last Friday's Bellator event in Dublin has slammed Conor McGregor's actions as childish. Fuck yous all. "You know I'm competitive, I still have it in me".

LeBron James, Cavaliers ride the subway before game against Knicks
James, now in his 15th season of National Basketball Association service, made a decision to document a portion of trip as well. Smith put it, "like real citizens". "As long as I'm getting on the right (expletive) train that's all I care about", he said.

Justice League Will See The 'True Superman'
Says Cavill, "Geoff and I have been delving into the history of the character to get to the core of who Superman is". While he ponders his own future as the Dark Knight, the actor does see a timeliness in Justice League's arrival now.

United States top court to hear case over 'crisis pregnancy centers'
The NIFLA case, the first of the four cases to reach the Supreme Court, is represented by Alliance Defending Freedom. Becerra, and the other two cases, will be held at the Court until it resolves the NIFLA case, likely in spring 2018.

Trump asked Chinese president for help over arrested UCLA basketball players
White House press secretary Sarah Huckabee Sanders confirmed in an email that Trump spoke to Xi regarding the matter. The Los Angeles Lakers selected his brother, Lonzo Ball, with the No. 2 overall pick in the 2017 NBA Draft.

Grigor Dimitrov holds off Dominic Thiem in his ATP Finals debut
Nadal's appearance has been in doubt after a knee injury forced him to withdraw midway through the Paris Masters tournament. Grigor Dimitrov has recorded a three-set victory over Dominic Thiem in his first-ever match at the ATP World Tour Finals .

Wolfenstein 2: The New Colossus gets release dates for Freedom Chronicles DLC
The first pack, which promises space action and is entitled The Adventures of Gunslinger Joe , will drop on December 14 . We've known what the season pass entailed for a while now, but not we know precisely how everything's lined up.

Hate crime reports up nationally, Pittsburgh remains the same
More than half of the religious-related crimes, the statistics show, were anti-Jewish, while a quarter were anti-Muslim. The latest overall figure included sharper spikes in hate crimes targeting several minority groups.

Air Quality Index 'severe' in North Indian cities
Affluent residents and large private companies have been placing bulk orders for air purifiers and filtration masks. The scheme was introduced in the Chinese capital a decade ago to fight traffic and pollution with mixed success.

In an Effort to Combat Dipping Ratings, ESPN Is Heading to Snapchat
What's SportsCenter's next evolution? SportsCenter's arrival makes it the first-ever daily sports show on the platform. ET, and then starting Tuesday will launch on a regular schedule of shows available twice a day at 5 a.m. and 5 p.m.

Sudanese President Omar Al-Bashir to visit Uganda next week
The Sudanese President Omar al-Bashir has this afternoon arrived in the country for a two day state visit. His last visit to Uganda was in May past year to attend President Museveni's fifth swearing-in ceremony.

Two militants killed in Kashmir
After no contact was established with the militants, the search operations at both the places were called off. In the exchange of fire, one security personnel sustained injuries.

Salvation Army of Dickinson County to start annual kettle fundraiser Monday
Zanesville, Ohio- Yesterday, members of The Salvation Army gathered together to host their annual Red Kettle holiday fundraiser. Bell ringers and the familiar red kettles will be posted outside businesses in the metro area.

Air Force acknowledges Texas shooter's history should have been reported
A Claflin University student from Greenville is dead after being shot by his roommate at their apartment in Orangeburg County. But soon after they married and moved from Texas to New Mexico, he became abusive and even sexually assaulted her, she said.

Samantha and Naga Chaitanya's wedding reception
The guests at the wedding reception included Allu Arjun , Venkatesh Daggubati, Ram Charan, Rakul Preet, Chiranjeevi and Varun Tej. The Industries big shot have visited for this reception party and made this event a grand event for this family.