Shell gets rid of all Woodside shares following investors demand

Following a decision earlier on Monday to sell part of its stake in Woodside, oil major Shell has now decided to sell even more of its interest in the Australian firm. 

Shell first announced that its subsidiary, Shell Energy Holdings Australia Limited (SEHAL), would sell 71.6 million shares in Woodside, representing 64% of Shell’s interest in Woodside and 8.5% of the issued capital in Woodside. The deal was made at a price of A$31.10 per share, resulting in total pre-tax proceeds of approximately $1.7 billion (A$2.2 billion).

However, following strong demand from institutional investors, Shell said late on Monday it had upsized its previously announced agreement to sell shares in Woodside Petroleum.

A total of 111.8 million shares were agreed to be sold, representing 13.28% of the issued share capital of Woodside and the entirety of SEHAL’s total shareholding in Woodside, for total pre-tax proceeds of $2.7 billion (A$3.5 billion).

Completion is expected to take place on November 14, 2017, with settlement expected on November 16, 2017.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply