Further to the announcement on 17 June 2014, Royal Dutch Shell plc t0day confirmed its subsidiary has completed the sell-down of 78.27 million shares of Woodside Petroleum Limited (“Woodside”).
Shell Energy Holding Australia Limited (“SEHAL”) completed the sale at a price of A$41.35 per share with proceeds expected to be received on 23 June 2014. The sale to a broad range of equity investors attracted strong demand and took place on an underwritten basis, Shell said..
As also announced on 17 June 2014, SEHAL has agreed with Woodside the buy-back of 78.27 million shares. After completion of the buy-back and cancellation of the buy-back shares by Woodside, which remains subject to limited conditions, including Woodside lender consent and Woodside shareholder approval, Shell’s ownership of Woodside will reduce to below 5%. As part of this transaction, SEHAL has agreed to retain its remaining shares in Woodside for 90 days from completion of the sell-down with limited exceptions.