Royal Dutch Shell sold the majority of its stake in Australian company Woodside Petroleum for 5.7 billion USD. The English-Dutch giant holds a share of 23% in Woodside.

Today, the company sold 78.3 million shares to the investors and lost its major stake. At the same time, the Australian company bought the same amount of shares bundled with Shell, which means that Shell had disposed of about 19% from its stake in Woodside. For several months Shell was looking to sell its stake in Woodside, describing it as “non-strategic”, as the two companies partnered for 40 years.

The sale of the company is part of the strategy of the Shell to raise funds for the development of new projects. In February, the company sold another of its assets on the Green continent - refinery and gas stations, to Vitol Group.