Two Australian Companies to Implement Assets Exchange
CHEMMONITOR.COM – Two Australian companies, Melbourne-headquartered Shell Development (Australia) Pty Ltd. and Perth-headquartered Chevron Australia Pty Ltd, last week came to an agreement to exchange the assets.
In general, Shell will exchange about 33.5% of shares, while the other party will interchange roughly 36.7% of its interest. On the top of that, Melbourne-headquartered firm will pay around USD 452 million to Chevron.
Shell Development (Australia) Pty Ltd. intends to develop its presence in a Liquefied natural gas (LNG) project of the country.