AMSTERDAM (AP) 8 November 2010 Royal Dutch Shell PLC said Monday it plans to sell a 10 percent stake in Woodside Petroleum Ltd., Australia’s largest independent gas and oil company, for around $3.33 billion.
Shell said Swiss bank UBS had agreed to underwrite the sale of 78.34 million Woodside shares at A$42.23 a 7.9 percent discount to the company’s closing price Monday of A$45.86 per share. Shell will continue to hold an additional 24.27 percent of Perth-based Woodside, which it also plans eventually to sell.