SYDNEY--Chevron Corp. (CVX) said Friday it would sell its 50%
interest in oil refiner Caltex Australia Ltd. (CTX.AU), potentially
raising around 5 billion Australian dollars (US$3.90 billion).
The second biggest U.S. oil producer by output behind Exxon
Mobil Corp. said it entered an underwriting agreement to sell its
Caltex Australia shares to what it expects to be a a range of
institutional investors.
Caltex Australia shares closed trading in Sydney on Friday at
A$37.88 each, giving the company a market capitalization of A$10.22
billion.
Write to Ross Kelly at ross.kelly@wsj.com
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