Shell sells Corrib stake to Canadian pension fund for €1.08 billion

The Canada Pension Plan Investment Board has entered into an agreement with Vermilion

12th July, 2017
The Corrib gas plant

The CPPIB, a professional investment management organisation that invests the funds not needed by the Canada Pension Plan to pay benefits on behalf of 20 million contributors and beneficiaries, in turn has entered into a strategic partnership with international energy group Vermilion to operate the field.

Under the terms of the agreement, CPPIB plans to transfer Shell E&P Ireland -- which holds the 45 per cent interest -- to Vermilion, along with a 1.5 per cent...

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