Woodside Sale Reiterates Weak LNG Sentiment

摘要

Shell has proceeded to cut its exposure to the Australian LNG market, through the sale of 19% of its stake in major Australian player Woodside Petroleum. Woodside will be buying back about 78.3mn shares – about 9.5% of total shares issued by Woodside – held by Shell at USD2.68bn, which equates to about USD34.23 per share. Prior to the trading halt to facilitate this transfer, Woodside was trading at about AUD42.87 (USD40.16) per share; therefore Shell is offloading its stake at a 20% discount to market value.