Upon completion of the sale, SEHAL will continue to own a 4.8% interest in Woodside. The company 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, with limited customary exceptions.
Shell’s Chief Financial Officer, Jessica Uhl, commented: “This sale is another step towards the completion of our three-year US$30 billion divestment programme, which is an important part of our strategy to reshape Shell, to deliver a world class investment case, and to strengthen our financial framework. Proceeds from the sale will contribute to reducing our net debt.”
