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2015-11-20 19:25:00

QATAR SELLS $1.5 BLN

QATAR SELLS $1.5 BLN

The Qatar Investment Authority has sold its shares in Shell and BG for $1.5bn, according to Qatar's Al Sharq Media.

The Authority sold approximately 43mn shares in BG worth $840mn and roughly 24mn shares worth $643mn in Shell, Al Sharq quoted sources as saying.

The deal was concluded at the end of last October and the beginning of November.

The Qatar Investment Authority is among the major shareholders in Shell, holding close to 4.88% of the company's capital, in addition to owning a stake of roughly 1.76%.

Shell is the largest foreign investor in Qatar; it has invested up to $21.15bn during the past six years.

Royal Dutch Shell, better known as 'Shell' is one of the major oil companies in the world, a multinational oil company of British and Dutch origin and is the second-largest private energy company in the world.

BG Group is a British multinational natural gas company and one of the top 20 groups operating in the oil and gas fields in the world. Headquartered in Reading, UK, it is the third-largest producer of oil and gas in Britain.

arabianoilandgas.com

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Tags: QATAR, SHELL

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