Shell, BG merger cleared by EU
The European Commission has unconditionally approved the planned $70-billion merger of Royal Dutch Shell PLC and BG Group PLC reported in April.
Including clearance in Brazil, two of the five preconditions to the combination have now been satisfied. In June, the US Federal Trade Commission granted early termination for the US antitrust waiting period (OGJ Online, June 16, 2015).
“The transaction is on track for completion in early 2016,” said Ben van Beurden, Shell chief executive officer. “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.”