Market Chatter: Royal Dutch Shell ADRs Up 1% - In Talks to Sell North Sea Assets to Maersk

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Royal Dutch Shell (RDS.A, RDS.B) and Denmark-based A.P. Moller-Maersk are in talks for the latter buy Shell's portfolio of North Sea assets, according to a report from Reuters that cited banking sources. Shell ADRs climbed 1.3% intraday.

The assets under discussion are valued at around $2 billion, sources were cited as saying. Both Shell and Maersk Oil declined to comment.

Separately, Maersk unveiled Thursday a major overhaul that will see it focus on its core transport and logistics businesses, while looking at options for its energy division within 24 months that could include a joint venture, merger or listing, the news report said.

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This article appears in: Investing , ETFs
Referenced Symbols: RDS.A , RDS.B , RDS/B


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