Royal Dutch Shell (RDS.A) announced it has agreed to acquire part of Repsol's (REPYY) Liquefied Natural Gas portfolio outside of North America, including supply positions in Peru and Trinidad & Tobago, for a cash consideration of $4.4B. Shell said it will also assume and consolidate balance sheet liabilities predominantly reflecting leases for LNG ship charters of currently $1.8B. The balance sheet impacts are subject to final assessment prior to completion of the transaction. The transaction, which has an effective date of 1 October 2012, is expected to close in the second half of 2013 or early 2014, subject to regulatory approvals and other conditions precedent.
- Royal Dutch Shell