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Shell Upsizes Sell Down of Shares in Australia´s Woodside
Tuesday 14 November 2017

14 November 2017 - Anglo-Dutch oil and gas major Royal Dutch Shell's (NYSE: RDS.A) Shell Energy Holdings Australia Ltd business has upsized its previously reported agreement to sell shares in Woodside Petroleum Ltd. following strong demand from institutional investors, the company said.

A total of 111.8m 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 USD 2.7bn (AUD 3.5bn).

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

Woodside is Australia's largest independent oil and gas company with a global portfolio. ‚ÄčThe company bills itself as Australia's most experienced liquefied natural gas (LNG) operator. We operate 8% of global LNG supply.1 

The company's producing assets in Australia include the North West Shelf (NWS) Project, operating since 1984, and the Pluto LNG Plant, which commenced production in 2012. In 2017, production commenced at its non-operated Wheatstone LNG interests.
Date Published: 14/11/2017
Target: Woodside Petroleum/13.28% stake
Country: Australia
Deal Size: 2.7bn (USD)
Sector: Petroleum/Natural Gas/Coal
Type: Divestment
Financing: Cash
Status: Agreed
Vendor: Shell Energy Holdings Australia
Buyer: Institutional investors