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BRIEF-Shell further reduces interest in Woodside Petroleum Ltd
November 13, 2017 / 8:44 AM / a month ago

BRIEF-Shell further reduces interest in Woodside Petroleum Ltd

Nov 13 (Reuters) - SHELL:

* ‍SHELL FURTHER REDUCES ITS INTEREST IN WOODSIDE​

* ANNOUNCES AN AGREEMENT TO SELL PART OF ITS STAKE IN WOODSIDE PETROLEUM LIMITED (WOODSIDE) TO EQUITY INVESTORS‍​

* UNDERWRITING AGREEMENT WITH TWO INVESTMENT BANKS FOR THE SALE OF 71.6 MILLION SHARES IN WOODSIDE, AT A PRICE OF A$31.10 PER SHARE. ‍​

* EXPECTS DEAL TO RESULT IN TOTAL PRE-TAX PROCEEDS OF APPROXIMATELY $1.7 BILLION (A$2.2 BILLION)‍​

* SALE OF 71.6 MILLION SHARES IN WOODSIDE, REPRESENTS 64.0% OF ITS INTEREST IN WOODSIDE AND 8.5% OF THE ISSUED CAPITAL IN WOODSIDE‍​

* UPON COMPLETION OF THE SALE, SEHAL WILL CONTINUE TO OWN A 4.8% INTEREST IN WOODSIDE.

* UNIT SEHAL HAS AGREED THAT IT WILL NOT DISPOSE OF ANY OF ITS REMAINING SHARES IN WOODSIDE FOR A MINIMUM OF 90 DAYS FROM COMPLETION OF THE SELL-DOWN Source: go.shell.com/2zzvWVG Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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