Woodside Petroleum is set to undertake a selective buy-back of 78.3 million shares from Shell, with a significant reduction in Shell's shareholding and representing approximately 9.5 per cent of Woodside's issued share capital. The two companies have signed a binding buy-back agreement, with Woodside to purchase the shares from Shell Energy Holdings Australia via a selective buy-back at a price of approximately $2.85 billion.
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