November 9, 2015 / 10:16 AM / 2 years ago

Canadian Natural to sell royalty assets to PrairieSky for C$1.8 bln

Nov 9 (Reuters) - Canadian Natural Resources Ltd said it will sell a part of its royalty assets to PrairieSky Royalty Ltd in a cash-and-stock deal worth C$1.8 billion ($1.4 billion), as the oil producer sheds assets to weather a slump in crude prices.

PrairieSky will pay C$680 million in cash and about 44.4 million in stock valued at C$25.20 per share, Canadian Natural Resources said in a statement on Monday. ($1 = C$1.33) (Reporting by Amrutha Gayathri in Bengaluru; Editing by Savio D‘Souza)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below