14th Dec 2015 06:43
LONDON (Alliance News) - Royal Dutch Shell PLC on Monday said its GBP47.0 billion takeover of rival BG Group PLC has been secured approval from regulators in China, providing the final pre-conditional approval required for the merger.
The Chinese Ministry of Commerce gave its unconditional clearance for the deal, adding to the approvals the pair already received in Brazil, the European Union and Australia.
"This is a strategic deal that will make Shell a more profitable and resilient company in a world where oil and gas prices could remain lower for some time. We will now seek approval from both sets of shareholders as we move towards deal completion in early 2016," said Ben van Beurden, Shell's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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