Shell to sell stake in Woodside Petroleum

BENGALURU/LONDON: Royal Dutch Shell said on Monday it was selling part of its stake in Woodside Petroleum Ltd to equity investors for about $1.7 billion. Shell Energy Holdings Australia Ltd , had entered into an agreement with two investment banks for the sale of 71.6 million shares in Woodside for 31.10 Australian dollars ($23.79) per share.The firm said that represented 64% of its interest in Woodside and 8.5% of the issued capital in Woodside.