- The Australian
- 12:00AM August 2, 2016
BRIDGET CARTER: Mergers & Acquisitions Editor: Sydney
GRETCHEN FRIEMANN: Mergers & Acquisitions Editor: Sydney
It’s unlike the CFO of an oil major to be imprecise when it comes to accounting classifications of assets.
Unless maybe he doesn’t mind causing a bit of mischief for a joint venture partner with whom relationships have been less than rosy of late.
Shell finance director Simon Henry set the hares running last week during a second-quarter earnings call when he declared the company’s 13.3 per cent stake in Woodside Petroleum had been reclassified first as “held available for sale” and then “held as an asset for sale”.