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Royal Dutch Shell Plc’s agreement to sell out of oilsands producer Canadian Natural Resources Ltd. brings its US$30 billion divestment goal within reach.

The Anglo-Dutch company’s Shell Gas BV unit will divest all its shares in Canadian Natural for total pretax proceeds of $4.3 billion (US$3.3 billion), The Hague-based Shell said Monday. The sale serves the dual purpose of shedding one of its dirtiest assets, while reducing debt accumulated after the US$50 billion purchase of BG Group Plc.

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The shares are being offered at US$34.10 apiece, according to a person familiar with the matter. That’s a 2.9 per cent discount to Canadian Natural’s close on Monday in New York.

At the end of the first quarter, Shell had completed US$26 billion of its US$30 billion asset-sale program. With the Canadian transaction, expected to be completed by Wednesday, it’s almost reached that target.

The announcement “contributes to our strategy to reshape Shell, to deliver a world-class investment case and to strengthen our financial framework,” a company spokesman said by email. A Canadian Natural spokeswoman declined to comment.