London Evening Standard: Shell mulls £2.2bn power stake sale
“TROUBLED oil major Shell is said to be considering selling its share of global power venture InterGen for an estimated $4bn (£2.23bn).”
Tom Nicholls,
2 September 2004
TROUBLED oil major Shell is said to be considering selling its share of global power venture InterGen for an estimated $4bn (£2.23bn).
‘We are continually reviewing our portfolio of assets, including our shareholding in InterGen, to meet changing market conditions and to release capital to fund growth opportunities,’ the company said.
Under the leadership of Jeroen van der Veer, who took over from Sir Philip Watts as chairman of the committee of managing directors in March following the oil and gas reserves reporting scandal, the company has been selling off underperforming and non-core assets.