Shell seeking to sell $30 billion in assets to cut debt
A unit of Royal Dutch Shell Plc has agreed to sell its entire stake in oil sands producer Canadian Natural Resources Ltd. for about $3 billion, which will be used to reduce debt.
Shell Gas BV will sell its 97.6 million shares in Canadian Natural for total pretax proceeds of $3.3 billion, and the transaction is expected to be completed by Wednesday, according to a statement from Hague-based Shell. The shares are being offered at $34.10 each, according to a person familiar with the matter, a 2.9 percent discount to its close Monday in New York.
A Canadian Natural spokeswoman declined to comment on the sale.
Shell has been selling assets globally to meet its divestment target of $30 billion as the company reduces debt, which soared following its acquisition of BG Group in 2016. The producer flagged last year that its Canadian Natural stake would be “managed for value realization over time” after announcing a deal to sell most of its production assets in Canada.
The stake in Canadian Natural was acquired as part of a net $7.25 billion deal to dispose all its Canadian oil sands interests apart from a 10 percent stake in the Athabasca Oil Sands Project. That deal, announced in March 2017, was one of its biggest asset disposals as part of the divestment plan, according to Bloomberg Intelligence.
Shell Gas BV has entered into an underwriting agreement with Goldman Sachs & Co., RBC Capital Markets, Scotiabank and TD Securities, for the sale of the stake. Canadian Natural shares closed at $35.11 on Monday.
— With assistance by Kevin Orland
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
