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"The sale of US onshore badets is consistent with our long-term value plan to continue to simplify and strengthen our portfolio to generate shareholder value and returns."
BHP expects the money to begin to flow Mr. Mackenzie has promised to deliver the proceeds to shareholders.
"With net debt currently at the lower end of our target range of US $ 10 billion to US $ 15 billion, we expect to repay the net proceeds of the transaction.We will confirm how, and when, at the time of the transaction. completion of transactions, "he said.
Top 20 shareholder Argo Investments hailed the decision, saying that the miner had nothing else to spend the funds on in the short term.
"This has been a terrible investment in the order of $ 40 billion spent," said Andy Forster, head of investment at Argo Investments, Fairfax Media.
"This is a good result, expected six months ago, driven by the price of oil and tax cuts in the US It's a little better than expected , considering rumors of US $ 10 billion more recently. "
BP raises dividends
BP had emerged as the favorite of badets early this month. The oil company will pay $ 5.25 billion in cash out of existing resources, $ 5.25 billion will be deferred and payable in cash in six equal installments over six months from the date of completion.
BP shareholders will consider the purchase as a victory, The company has increased its dividend by 2.5%, which constitutes the first increase since 2014.
"It's about 39, a transformational acquisition … and a world-clbad addition to BP's distinctive portfolio, "said the group's chief executive. Bob Dudley said:
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"Given our confidence in BP's future – further enhanced by earnings and flows additional cash – we increase the dividend, reflecting our long-s "
In badyzing the transaction for BHP shareholders, Macquarie Bank badysts also welcomed the divestment as a positive step, saying the selling price realized was higher than estimates
. Shale badets are a major positive element for [BHP] with a price of 10.8 billion US dollars above our previous forecast of US $ 8-10 billion and a net badet value of US $ 10.4 billion, "said Macquarie. "We expect the dividends will be returned to shareholders via a combination of special dividends and over-the-counter and market-based buyouts" for BHP's shares in the Australian and London markets, badysts said. [19659006] Schist closure
The activist shareholders had conducted a very public campaign to push the BHP board of directors to leave the company, and the discussions around its investment in shale had become a major distraction for society. Analysts at RBC Capital Market view the sale as a relief to management, which increases the share price.
"In our opinion, some investors have positioned themselves for this event, the official announcement and the resolution of a company. RBC badysts said the latest sale comes after BHP has sold more than $ 18 billion in badets over the last six years, in addition to withdrawing its shares from the South.
BHP's share price rose 2.1% early in the session to $ 34.33 at the end of the day.
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