27th Jan 2016 12:31
LONDON (Alliance News) - Oil major Royal Dutch Shell PLC on Wednesday said its shareholders had voted in favour of its takeover of London-listed gas producer BG Group PLC.
In total, 83% of Shell's shareholders voted in favour of the deal, following concerns raised in recent months about mega-merger given the slump in world oil prices since the deal was announced in April last year.
"I am delighted with the positive shareholder vote and the confidence that shareholders have shown in the strategic logic of the combination of Shell and BG. Our immediate focus is on the successful completion of the transaction and we now await the results of tomorrow's BG shareholder vote," said Ben van Beurden, Shell's chief executive.
Shell 'A' shares were down 1.6% to 1,399.50 pence on Wednesday, while its 'B' shares were down 1.7% to 1,397.00p. BG shares were up 0.3% to 998.10p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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