Two Australian Companies to Implement Assets Exchange

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30 Aug 2012 16:42 Helen Clark

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.

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