Shell’s Australia unit to sell part of its stake in Woodside Petroleum for $1.7b

Visual of a deepwater platform from Shell's website.

Royal Dutch Shell said on Monday it was selling part of its stake in Woodside Petroleum Ltd to equity investors for about $1.7 billion.

Shell said its unit, Shell Energy Holdings Australia Limited (SEHAL), had entered into an agreement with two investment banks for the sale of 71.6 million shares in Woodside for 31.10 Australian dollars ($23.79) per share.

The company said that represented 64 percent of its interest in Woodside and 8.5 percent of the issued capital in Woodside.

Upon completion of the sale, SEHAL will continue to own a 4.8 percent interest in Woodside.

Shell has so far sold or agreed to sell over $26 billion as part of its three-year $30 billion asset sales programme launched following the acquisition of BG Group in 2015.

Also Read:

Shell, KUFPEC cancel share sale in Bongkot gas field in Thailand

India: ONGC may consider selling stakes in state firms to fund HPCL deal

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.