Shell, BG Group win EU antitrust clearance for planned merger
Royal Dutch Shell announced Wednesday that its recommended combination with BG Group has received unconditional merger clearance from the European Commission.
Together with the previously-announced pre-conditional clearance in Brazil, two of the five pre-conditions to the merger have now been satisfied.
"Receiving clearance from the European Commission underlines the good progress we are making on the deal," said Shell CEO Ben van Beurden.
"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 pre-conditions and conditions to the combination were set out in the deal announcement on April 8. The total deal is valued at approximately $70 billion, according to news reports.
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