Shell: finalises asset sale in Ireland

(CercleFinance.com) - Shell announces that it has completed the sale of its shares in Shell E&P Ireland Limited (SEPIL), which holds a 45% interest in the Corrib gas project, for a sum of 1.
3 billion dollars, to a company owned by the Canada Pension Plan Investment Board (CPPIB).

This deal has been finalised after Shell obtained the required regulatory authorisations. It will contribute to the group's 30 billion dollar divestment target over the period 2016-2018 and will mean it withdraws from upstream activities in Ireland.

The transaction includes an initial receipt of 958 million dollars, interest of 54 million dollars and additional payments of up to 285 million dollars between 2018 and 2025, according to gas prices production.

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