Shell, Mitsubishi exploring sale of stakes in LNG Canada, Reuters reports

Shell (SHEL) and Mitsubishi (MSBHF) are exploring options to sell their respective stakes in the C$40B LNG Canada project, three sources familiar with the matter told Reuters. Shell, the largest owner with a 40% stake in LNG Canada, has been working with investment bankers at Rothschild to sound out interested parties in recent weeks, said two of the sources. One of the sources estimated that any buyer for Shell’s stake could be committing roughly $15B, inclusive of the equity stake, debt and capital requirements for Phase 2. Meanwhile, Mitsubishi, which holds a 15% stake, has hired RBC Capital as it weighs its options, Reuters reported that two of the sources said