The proposed merger between Royal Dutch Shell and BG Group moved a step closer today with the European Commission giving the deal its blessing.
Together with the previously announced pre-conditional clearance in Brazil, two of the five pre-conditions to the combination have now been satisfied.
Commenting on the clearance Shell CEO, Ben van Beurden, said: “Receiving clearance from the European Commission underlines the good progress we are making on the deal. The transaction is on track for completion in early 2016. The recommended combination with BG is a springboard to change Shell into a simpler and more profitable company, making Shell more resilient in a world where oil prices could remain low for some time.”
The £55bn deal is one of the largest seen among energy majors for many years.
