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Bids, Mergers and Takeovers

China approval for Shell-BG deal

14 December 2015 07:22

BG Group has confirmed the receipt of unconditional merger clearance from the Chinese Ministry of Commerce of the recommended cash and share offer for the Company to be made by Royal Dutch Shell. This approval from China is the final regulatory clearance that is a pre-condition to the Combination. Other pre-conditional clearances have already been received from the authorities in Australia, Brazil and the European Union.

BG Group's chief executive, Helge Lund said: "Following today's approval from MOFCOM, all pre-conditional regulatory approvals for the combination have been received and we now move to the next phase. I am pleased that we have continued to deliver a strong operating and safety performance throughout the offer period which is a credit to our teams across the business. The proposed combination has strong industrial logic, particularly in deep water production and LNG, and will accelerate the delivery of value to our shareholders."

Story provided by StockMarketWire.com

Related Company: BG.

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