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

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

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

Shell has agreed to sell its 45 per cent interest in the Corrib natural gas field to Canada Pension Plan Investment Board (CPPIB) for up to €1.08 billion, including an initial payment of €830 million in cash.

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...

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