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Shell raises $1bn from InterGen sale

Financial Times: Shell raises $1bn from InterGen sale

“The sale of InterGen, which operates power plants in several territories across the world, is part of Shell’s plan to raise as much as $15bn through the disposal of non-core assets in the period of 2004 to 2006.”

Saturday 6 August 2005

By Michael Kavanagh

Published: August 6 2005

Royal Dutch Shell has raised $1bn (£564m) following the completed sale of its InterGen power generation co-venture. InterGen, which has been sold to AIG and the Ontario Teachers’ Pension Plan for $1.75bn, was majority owned by Shell with the remainder held by Bechtel, the US engineering services and construction company.

The sale of InterGen, which operates power plants in several territories across the world, is part of Shell’s plan to raise as much as $15bn through the disposal of non-core assets in the period of 2004 to 2006.

Michael Kavanagh

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