Royal Dutch Shell Plc's (NYSE: RDS.A) Shell Gas BV unit said May 7 it was selling its entire stake in Canadian Natural Resources Ltd. (NYSE: CNQ) for $3.3 billion.

Shell signed an underwriting agreement for the sale of its entire stake of 97.6 million shares in Canadian Natural, the company said in a statement.

Last June, Shell had reported a stake of 8% in Canadian Natural.

Shell decided to offload the roughly C$4.1 billion (US$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.

The deal between the two companies was earlier reported by the Globe and Mail.

The underwriting group includes Goldman Sachs & Co., RBC Capital Markets, Scotiabank and TD Securities. (US$1 = C$1.2888)