Shell set to sell Corrib stake to Canadian investors

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.
By Staff reporter 12 July 2017 0 26728

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....

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