In May 2008, Shell announced that it was pulling out of the project. It was announced in July 2008 that E.ON UK and DONG Energy would buy Shell's stake. Subsequently, on 16 October 2008, London Array announced the Abu Dhabi based Masdar would join E.ON as a joint venture party in the scheme. Under the agreement, Masdar purchased 40% of E.ON's half share of the scheme, giving Masdar a 20% stake in the project overall. The resultant ownership was 50% DONG Energy, 30% E.ON UK Renewables and 20% Masdar.