LONDON Feb 6 Royal Dutch Shell is
seeking to sell its stake in the Danish Underground Consortium
(DUC), an offshore oil and gas joint venture, in what would mark
the company's effective exit from Denmark, three banking sources
The stake is valued at up to $1 billion, according to two
Bank of America Merrill Lynch (BAML) is running the sale
process, the sources said.
Shell owns a 36.8 percent stake in DUC alongside operator
A.P. Moller-Maersk, which has 31.2 percent, Chevron
which holds 12 percent, and Danish state-run
Nordsøfonden which has a 20 percent stake.
Shell declined to comment. BAML was not available for
(Editing by Jason Neely)