Exclusive : BG puts Thai gas field stake worth $1.2 billion on sale – sources
BG Group plc, which is being acquired by Royal Dutch Shell plc, has put up for sale its 22.2 percent stake valued at around $1.2 billion in Thailand’s huge Bongkot offshore gas field, people familiar with the matter said.
The move represents the first major asset sale planned by BG since Shell agreed to buy the British company in April. The sale process required a green light from Shell, the people said.
BG has been exiting some of its Asian assets and last year sold its Australian gas pipeline business for $5 billion. Some bankers said its decision to sell the Thai gas field points to Shell’s desire to stay focused on its core assets.
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