May 7, 2018 / 11:56 PM / 2 years ago

Shell to sell stake in Canadian Natural for about $3.3 bln -Globe and Mail

May 7 (Reuters) - Royal Dutch Shell Plc is selling 97.5 million shares of Canadian Natural Resources Ltd in a bought deal for about $3.3 billion, according to the Globe and Mail.

Shell had decided to offload a roughly C$4.1 billion ($3.18 billion) stake in Canadian Natural Resources that it acquired as part of a deal to retreat from Canada’s oil sands, people familiar with the situation had told Reuters nearly a year ago.

In June, Shell had reported a stake of 8 percent in Canadian Natural Resources.

The underwriting group includes Goldman Sachs, Scotiabank, RBC, and Toronto-Dominion, according to the Globe and Mail report. ($1 = 1.2888 Canadian dollars) (Reporting by Mekhla Raina in Bengaluru Editing by Chris Reese)

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