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Canada: Oil & Gas Deal Shell Puts its Interest in Canadian Natural Resources on Sale

| Editor: Ahlam Rais

The company has signed an agreement with Goldman Sachs & Co, RBC Capital Markets, Scotiabank and TD Securities, for the sale of its entire stake in Canadian Natural.

Shell has recently announced an agreement to sell its entire stake in Canadian Natural Resources
Shell has recently announced an agreement to sell its entire stake in Canadian Natural Resources
(Source: Royal Dutch Shell)

Canada – Royal Dutch Shell has recently announced an agreement to sell its entire stake in Canadian Natural Resources (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.

This represents the firm’s entire interest in Canadian Natural resulting in total pre-tax proceeds of approximately 3.3 billion dollars. Proceeds from the sale will contribute to reducing net debt.

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