CNBC
Shell ditches the Dutch, moves to London in share structure overhaul
PUBLISHED MON, NOV 15 20212:30 AM
KEY POINTS
- Royal Dutch Shell said on Monday it would scrap its dual share structure and move its head office to Britain from the Netherlands, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas.
- The Anglo-Dutch firm has been in a long-running tussle with the Dutch authorities over the country’s 15% dividend withholding tax, which Shell sought to avoid paying with its two share classes. Its new structure would resolve that issue.
- The Dutch government said on Monday it was “unpleasantly surprised” by Shell’s plans to move to London from The Hague.
Royal Dutch Shell said on Monday it would scrap its dual share structure and move its head office to Britain from the Netherlands, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas.
The company, which long faced questions from investors about its dual structure and had recently been hit by a Dutch court order over its climate targets, aims to drop “Royal Dutch” from its name – part of its identity since 1907 – to become Shell Plc. read more
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