Shell-BG merger receives clearance in China

Shell-BG merger receives clearance in China

The Chinese ministry of commerce on Monday granted unconditional approval of the $70 billion Shell-BG Group combination. 

Both companies said the approval is the final regulatory clearance necessary for the merger, proposed in April, to go ahead.

The combination had previously received approvals in Europe, USA, Brazil and most recently Australia.

Shell’s CEO Ben van Beurden said in a statement that the deal, which would create one of the world’s largest LNG players, moves into the next phase which is seeking approval from both sets of shareholders.

He added that the deal is still expected to be completed in early 2016.

 

LNG World News Staff

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