Shell has agreed to sell its 45% interest in Ireland’s Corrib gas venture for $1.23 billion to CPP Investment Board Europe, a subsidiary of the Canada Pension Plan Investment Board.
The deal will see the Anglo-Dutch major’s exit from the upstream business in Ireland and is expected to be completed in Q2 2018.
"This transaction is part of our strategy to reshape Shell and to deliver a world-class investment case," said Shell’s upstream director, Andy Brown.
"It demonstrates the strong momentum behind our three-year $30 billion divestment programme....
Log in or register for a free trial to continue reading this article
Not a subscriber?
To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.Sign up