Qatar Investment Authority sold its shares in Shell and BG for £988.2 million, reveal informed sources.
The same sources indicate that the Authority sold approximately 43m shares in BG worth £550m and roughly 24m shares worth £421m in Shell, Qatar-based Al-Sharq reports.
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 per cent of the company’s capital in addition to owning a stake of roughly 1.76 per cent.
Shell is the largest foreign investor in Qatar; it has invested up to £13.85 billion 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, the United Kingdom, it is the third-largest producer of oil and gas in the UK.
(£1 = AED 5.57, at the time of publishing)