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Shell to sell Canadian Natural Resources stake for $3.3bn
Royal Dutch Shell has agreed to sell its entire stake in Canadian Natural Resources for $3.3bn.
The oil giant said on Tuesday that proceeds from the sale, which is expected to complete on Wednesday, will contribute to reducing net debt.
Shell's subsidiary, Shell Gas B.V., has entered into an underwriting agreement with Goldman Sachs & Co, RBC Capital Markets, Scotiabank and TD Securities, for the sale of just under 97.6m shares in Canadian Natural, which represents its entire stake.