Shell: Sells stake in Woodside

Royal Dutch Shell has sold its entire stake in Woodside Energy as part of its three-year $30bn disbursement programme. Shell said a total of 111.8m shares would be sold on 13 November, representing 13.28% of the issued share capital of Woodside and the entirety of Shell Energy Holdings Australia Limited’s total shareholding in the company, for total pre-tax proceeds of $2.7bn. Shell had been planning to sell only a portion of the stake but, following strong demand from institutional investors, decided to sell it all.