Shell, BG deal clears Brazilian hurdle

OE Staff
Monday, July 27, 2015

Shell's acquisition of BG Group has cleared another major hurdle - unconditional merger clearance from the Brazilian competition authority (CADE). 

The  clearance follows CADE’s initial approval of the combination on 8 July 2015, and the expiry of the 15-day period during which CADE’s decision could be appealed.

The approval is one of the five regulatory clearances that are pre-conditions to the combination and this is the first precondition to be satisfied. Other pre-conditional approvals are required from Australia (anti-trust and foreign investment), China (anti-trust) and the European Union (anti-trust).

The filing process to obtain these approvals and the regulatory approvals required in other jurisdictions is well underway, according to BG Group. The combination will also require support from both BG Group and Shell shareholders. 

The pre-conditions and conditions to the combination are set out in the announcement of the proposed offer released on 8 April 2015.

Read more

Shell, BG get Brazil green light

Shell makes US$70 billion BG Group bid

Shell, BG Group deal clears US anti-trust hurdle

Categories: Natural Gas LNG

Related Stories

Commodity Report: Meeting Oil Demand a Challenge if Israel Hits Iran Oil

Commodity Report: Meeting Oil Demand a Challenge if Israel Hits Iran Oil

Germany's SEFE and Azerbaijan's SOCAR Enter Long-Term Gas Supply Deal

Germany's SEFE and Azerbaijan's SOCAR Enter Long-Term Gas Supply Deal

Wärtsilä to Supply Regasification Module for Egypt-Bound FSRU

Wärtsilä to Supply Regasification Module for Egypt-Bound FSRU

Current News

Commodity Report: Meeting Oil Demand a Challenge if Israel Hits Iran Oil

Egypt Halts Fertilizer Production In Light of Israeli Gas Disruptions

Edda Wind Welcomes New CSOV to its Fleet

TotalEnergies’ Unit to Build Battery Storage Site in Japan to Help Balance Grid

Subscribe for OE Digital E‑News

Offshore Engineer Magazine