Green Touch Builders | Chevron sells stake in Australian company in multibillion-dollar deal
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March 30, 2015 By SEO Admin

Chevron sells stake in Australian company in multibillion-dollar deal

A subsidiary of California-based Chevron Corp. (NYSE:CVX) concluded a multibillion-dollar deal to sell its stake in an Australian company.

Chevron Global Energy Inc. sold its entire 50 percent stake in Australia-based Caltex Australia Ltd. at a price of 35 Australian dollars (about $26.80) per share. The deal was estimated at about $3.7 billion, according to Reuters.

“This transaction reflects Chevron’s commitment to regularly review our portfolio and generate cash to support our long-term priorities.…