Shell sells 19% of Woodside stake

Major shareholder to slash stake through Woodside buyback, sale to institutional investors.

Woodside Petroleum's (WPL) largest investor Shell is poised to offload the majority of its 23.1% stake in the group, through two separate transactions totalling $6.1 billion.

The deal has been anticipated in financial markets for several years as Shell trims back its global holdings to focus on projects with high returns.

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