Royal Dutch Shell PLC has signed an agreement to sell part of its stake in Woodside Petroleum Ltd. to equity investors. Shell subsidiary Shell Energy Holdings Australia Ltd. has entered into an underwriting agreement with two investment banks for the sale of 71.6 million shares in Woodside, representing 64% of its interest in Woodside and 8.5% of the issued capital in Woodside, at a price of $31.10 (Aus.)/share, resulting in total pretax proceeds of $2.2 billion (Aus.).

Source: News