Shell: sells stake in Aera Energy to IKAV

(CercleFinance.com) - Shell announced yesterday that its Shell Offshore subsidiary has sold its 51.
8% stake in Aera Energy (a company that operates some 13,000 wells to produce oil and gas in California's San Joaquin Valley) to IKAV (an international asset management group that invests in the energy sector - from solar and wind to natural gas).

The sale is part of Shell's strategy to create a resilient and competitive "upstream" portfolio by focusing on high growth potential positions and a strong integrated value chain.

Shell estimates that the transaction will result in an after-tax impairment charge of approximately 0.3 to 0.4 billion dollars, subject to adjustments.



Copyright (c) 2023 CercleFinance.com. All rights reserved.