Royal Dutch Shell plc (“Shell”) announces an agreement to sell its entire stake in Canadian Natural Resources Limited (“Canadian Natural”)
Shell’s subsidiary, Shell Gas B.V. (“SGBV”), has entered into an underwriting agreement with Goldman Sachs & Co, RBC Capital Markets, Scotiabank and TD Securities, for the sale of 97,560,975 shares in Canadian Natural, representing its entire interest in Canadian Natural resulting in total pre-tax proceeds of approximately $3.3 billion.
Proceeds from the sale will contribute to reducing net debt. The sale is expected to complete on May 9, 2018.
