Royal Dutch Shell’s $3.3 Billion Sale of its Interest in Canadian Natural Resources

On May 8, 2018, Royal Dutch Shell plc (“Shell”) announced that its subsidiary, Shell Gas B.V., entered into an agreement with Goldman Sachs & Co., RBC Capital Markets, Scotiabank and TD Securities for the sale of its entire stake in Canadian Natural Resources Limited, resulting in total pre‑tax proceeds of approximately $3.3 billion. Proceeds from the sale will contribute to reducing net debt. Cravath is providing U.S. securities law advice to Shell in connection with the transaction.

The Cravath team is led by partner Andrew J. Pitts and includes associate Emily C. Weiss.