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Bids, Mergers and Takeovers

BG-Shell deal gets green light from UK authorities

11 February 2016 12:02

BG Group (BG.) has announced that the High Court of Justice in England and Wales has sanctioned the scheme of arrangement in respect of the recommended cash and share offer made by Royal Dutch Shell for the entire issued and to be issued share capital of BG.

It is expected that the Effective Date of the Scheme will be Monday 15 February 2016, which is when the Court Order is expected to be delivered to the Registrar of Companies.

Trading in BG Shares on the London Stock Exchange's main market will be suspended with effect from 6.00 p.m. (UK time) tomorrow, 12 February 2016.

BG's Chief Executive, Helge Lund said: "I am delighted that the Combination has been sanctioned today. I would like to thank our shareholders and they will continue to benefit from BG's assets and capabilities as part of the combined business, which I am confident has a strong future. I would also like to thank all of our employees, and contractors, both personally and on behalf of the Board for their service to BG. They should feel proud of what they have achieved with the Company."

At 12:02pm: (LON:BG.) BG Group PLC share price was -8.25p at 1017.75p

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