Shell and Bechtel Complete Sale of Intergen

05 August 2005

Shell and Bechtel Complete Sale of Intergen


In addition and separate to this transaction, Shell had previously advised that InterGen's assets in the United States, Colombia, and Turkey would be retained pending further review. Within the past week, an agreement has been reached to divest the US assets. Agreement has also been reached to sell the remaining interests in the Turkey assets, and progress has been made in restructuring the power project in Colombia.  These transactions, all of which are subject to obtaining necessary consents, should result in Shell's exit from InterGen activities by year end 2005, and mark a significant step in Shell's portfolio restructuring activities.

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Bechtel is one of the most respected global engineering, construction, and project management companies. Together with our customers, we deliver landmark projects that foster long-term progress and economic growth. Since 1898, we’ve completed more than 25,000 extraordinary projects across 160 countries on all seven continents. We operate through four global businesses: Infrastructure; Nuclear, Security & Environmental; Oil, Gas & Chemicals; and Mining & Metals. Our company and our culture are built on more than a century of leadership and a relentless adherence to our values, the core of which are safety, quality, ethics, and integrity. These values are what we believe, what we expect, what we deliver, and what we live.  www.bechtel.com