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Shell to sell part stake in Australia’s Woodside

SYDNEY Nov 8 (Reuters) – Oil company Royal Dutch Shell Plc plans to sell down about a third of its stake in Australia’s largest oil and gas company, Woodside Petroleum, the UK-listed company said on Monday.

Shell said it was selling 10 percent of Woodside at A$42.23 per share in a sale underwritten by UBS, leaving it with a 24.27 percent stake which it would keep for at least a year.

The sale is part of a global effort to improve capital efficiency, Shell said.

(Reporting by James Regan, editing by Mark Bendeich)

REUTERS ARTICLE

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