By Ron Bousso and Clara Denina | LONDON
Royal Dutch Shell is seeking to sell its stake in the Danish Underground Consortium (DUC), an offshore oil and gas joint venture, in what would mark the company’s effective exit from Denmark, three banking sources said.
The stake is valued at up to $1 billion, according to two sources.
Bank of America Merrill Lynch (BAML) is running the sale process, the sources said.
Shell owns a 36.8 percent stake in DUC alongside operator A.P. Moller-Maersk, which has 31.2 percent, Chevron which holds 12 percent, and Danish state-run Nordsøfonden which has a 20 percent stake.
Shell declined to comment. BAML was not available for immediate comment.
The consortium, which started production in 1972, currently operates 16 fields, In 2014 it produced 51 million barrels of oil, roughly 140,000 barrels per day, and 4 billion cubic meters of gas, according to Maersk’s website.
Shell said last week it was close to selling assets totaling $5 billion to cut debt following its $54 billion acquisition of BG Group a year ago.
The Anglo-Dutch company has sold around $12.5 billion in assets since mid-2015 as it tries to reach its target of $30 billion in disposals by 2018. It has said it plans to exit five to 10 countries in the process.
Last September, Shell agreed an $80 million sale of its remaining Danish downstream business, including its Fredericia refinery, to Denmark’s Dansk Olieselskab.
In March 2015, Shell agreed to sell its retail and commercial fuel marketing operations in Denmark to Canada’s Alimentation Couche-Tard.
(Editing by Jason Neely and Susan Thomas)
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
MORE DETAILS:
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
