Chevron Concludes Sale of Interest in Caltex Australia Ltd
30 March 2015 - 8:00AM
Business Wire
Chevron Corporation (NYSE:CVX) today announced that its wholly
owned subsidiary Chevron Global Energy Inc. has completed the sell
down of its 135 million shares in Caltex Australia Limited (CAL) at
a share price of AUD$35.00. Chevron will receive the cash proceeds
upon settlement on April 2, and reflect the gain in second quarter
2015 results.
Chevron is one of the world's leading integrated energy
companies, with subsidiaries that conduct business worldwide. The
company's success is driven by the ingenuity and commitment of its
employees and their application of the most innovative technologies
in the world. Chevron is involved in virtually every facet of the
energy industry. The company explores for, produces and transports
crude oil and natural gas; refines, markets and distributes
transportation fuels and other energy products; manufactures and
sells petrochemical products; generates power and produces
geothermal energy; provides energy efficiency solutions; and
develops the energy resources of the future, including biofuels.
Chevron is based in San Ramon, Calif. More information about
Chevron is available at www.chevron.com.
NOT AN OFFER OF SECURITIES
The underwriting agreement in respect of the transaction
described in this announcement provides that the CAL shares were to
be sold only to persons, and by way of transactions, in Australia
that do not need a prospectus or other disclosure document under
Part 6D.2 of the Corporations Act 2001 (Cth) and to certain other
jurisdictions to persons to whom offers may lawfully be made
without requiring the preparation, delivery, lodgment or filing of
any prospectus or other disclosure document of any other lodgment,
registration or filing with, or approval by, a government entity.
Nothing in this announcement constitutes an offer of CAL securities
for sale or an invitation to any person to make an offer to buy CAL
securities in any jurisdiction.
This announcement does not constitute an offer to sell, or the
solicitation of an offer to buy, any CAL securities in the United
States. The CAL securities offered and sold in the institutional
offer described in this news release have not been, and will not
be, registered under the U.S. Securities Act of 1933 (the
"Securities Act") or the securities laws of any state or other
jurisdiction of the United States. Securities may not be offered or
sold in the United States absent registration under the Securities
Act or an exemption from registration. Accordingly, the CAL
securities to be offered and sold in the institutional offer may
not be offered or sold in the United States except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and any other
applicable U.S. state securities laws.
CAUTIONARY STATEMENT RELEVANT TO FORWARD-LOOKING INFORMATION
FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements relating
to Chevron’s operations that are based on management’s current
expectations, estimates and projections about the petroleum,
chemicals and other energy related industries. Words such as
“anticipates,” “expects,” “intends,” “plans,” “targets,”
“forecasts,” “projects,” “believes,” “seeks,” “may,” “could,”
“schedules,” “estimates,” “budgets,” “outlook,” “on schedule,” “on
track” and similar expressions are intended to identify such
forward-looking statements. These statements are not guarantees of
future performance and are subject to certain risks, uncertainties
and other factors, many of which are beyond the company’s control
and are difficult to predict. Therefore, actual outcomes and
results may differ materially from what is expressed or forecasted
in such forward-looking statements. The reader should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this presentation. Unless legally required,
Chevron undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Among the important factors that could cause actual results to
differ materially from those in the forward-looking statements are:
changing crude oil and natural gas prices; changing refining,
marketing and chemicals margins; actions of competitors or
regulators; timing of exploration expenses; timing of crude oil
liftings; the competitiveness of alternate-energy sources or
product substitutes; technological developments; the results of
operations and financial condition of equity affiliates; the
inability or failure of the company’s joint-venture partners to
fund their share of operations and development activities; the
potential failure to achieve expected net production from existing
and future crude oil and natural gas development projects;
potential delays in the development, construction or start-up of
planned projects; the potential disruption or interruption of the
company’s production or manufacturing facilities or
delivery/transportation networks due to war, accidents, political
events, civil unrest, severe weather, other natural or human
factors, or crude oil production quotas that might be imposed by
the Organization of Petroleum Exporting Countries; the potential
liability for remedial actions or assessments under existing or
future environmental regulations and litigation; significant
investment or product changes required by existing or future
environmental statutes, regulations and litigation; the potential
liability resulting from other pending or future litigation; the
company’s future acquisition or disposition of assets and gains and
losses from asset dispositions or impairments; government-mandated
sales, divestitures, recapitalizations, industry-specific taxes,
changes in fiscal terms or restrictions on scope of company
operations; foreign currency movements compared with the U.S.
dollar; the effects of changed accounting rules under generally
accepted accounting principles promulgated by rule-setting bodies;
and the factors set forth under the heading “Risk Factors” on pages
22 through 24 of the company’s 2014 Annual Report on Form 10-K. In
addition, such results could be affected by general domestic and
international economic and political conditions. Other
unpredictable or unknown factors not discussed in this presentation
could also have material adverse effects on forward-looking
statements.Unless legally required, Chevron undertakes no
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Chevron CorporationBraden Reddall, +1
925-790-6247BReddall@chevron.comSan Ramon
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