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Anglo-Dutch Shell turns its back on the Netherlands

2021-11-15T19:57:38.110Z


FOCUS - Since 1907, the oil major Royal Dutch Shell has shown its dual British and Dutch membership. Its leaders announced Monday that they were ending it.


The oil company, which is actively diversifying into renewable energies, will now be called Shell.

At the same time, it abandons its strategic headquarters in Rotterdam, where its leaders worked, who will join London, to the chagrin of the Dutch government.

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Behind the symbols, Shell aims above all to simplify the structure of its actions. The group includes two types of titles. After the reorganization, it will have only one - even if the triple listing in London, New York and Amsterdam remains. share buybacks, financial analysts say. Until now, Shell could not buy back for more than $ 2.5 billion per quarter. The future structure will go much further. And this, at the same time when the major wants to return to its shareholders the profits drawn from the sale of 9 billion dollars of its activities in the gas and oil of American shale.

This announcement comes in a complicated context for the group.

It was recently ordered by a Dutch court to accelerate its transition to carbon-free energies.

In addition, the Dutch pension fund ABP announced last month that it was pulling out fossil stocks, including from Shell.

The major is also attacked by the activist Third Point, who demands to split its activity around green energies in order to put it on the stock market.

Shell emphasizes that the transaction will not have a significant tax impact.

Shareholders will have to vote on this reorganization on December 10.

Source: lefigaro

All business articles on 2021-11-15

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