Shell’s acquisition of BG moves a step closer with EC blessing

Shell’s acquisition of BG moves a step closer with EC blessing

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.

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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