Clifford Chance advises Shell on AU$3.5 billion sale of stake in Woodside
10 November 2017
Clifford Chance advises Shell on AU$3.5 billion sale of stake in Woodside
Sydney: Leading international law firm Clifford Chance has advised Royal Dutch Shell plc (Shell) on the sale of 111.8 million shares in Australian Oil and Gas company Woodside. At approximately AU$3.5 billion, the sale represents 100% of Shell's interest in Woodside and 13.28% of the issued capital in Woodside. Rothschild was financial advisor to Shell and UBS and Morgan Stanley were appointed as sale banks.
Lead partner on the matter Lance Sacks offered, "This was the first billion dollar auction completed in this market without a trading halt, making it a significant milestone for both our team, and the parties involved. We are delighted to continue our strong track record advising on complex transactions in the market."
Lance was supported by corporate counsel Amelia Horvath in Sydney, with partner Johannes Juette offering US securities law advice from Singapore.
Clifford Chance and Rothschild also advised on Shell's multi-billion dollar sale in Woodside in 2014.