Royal Dutch Shell Sells 71.6 Million Woodside Shares for A$31.10 each
13 November 2017 - 9:55AM
Dow Jones News
By Ian Walker
Royal Dutch Shell PLC (RDSA.LN) said Monday that it is selling
71.6 million shares in Woodside Petroleum Ltd. (WPL.AU) for 31.10
Australian dollars ($23.78) a share, raising A$2.2 billion as it
seeks to lower its debt mountain.
Shell said it is selling the shares to two investment banks and
expects the deal to be completed on Tuesday.
Shell will own a 4.8% interest in Woodside after the sale, and
it has agreed not to sell any more shares in the Australian oil
company for at least 90 days thereafter.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
November 13, 2017 03:40 ET (08:40 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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