WDS - Shenzi Sinks: Woodside Takes $1.2B Asset Impairment Charge On BHP Merger | Benzinga
Woodside Energy Group Ltd (NYSE:WDS) shares are trading lower after disclosing an impairment charge related to assets acquired under the 2021 transaction with BHP Group Ltd (NYSE:BHP).
In particular, the company expects to recognize non-cash post-tax asset impairments of about $1.500 billion in 2023, which includes around $1.200 billion ($1.400 billion pre-tax) related to the Shenzi asset.
The charges are mainly related to goodwill and a portion of the purchase price assigned to Shenzi after completing the merger ...