Australia clears Shell, BG merger

Shell's US$70 million BG Group merger deal has finally been approved by the Australia's Foreign Investment Review Board.

The move had been delayed from mid-September to November by the Australian Australian Competition and Consumer Commission (ACCC) after a warning that the billion dollar takeover could increase Australian gas prices, plus limit domestic gas supplies. 

The approval is one of the five regulatory clearances that are pre-conditions to the combination and this is the fourth pre-condition to be satisfied, following the previously announced clearances in Brazil and the EU, and the ACCC’s approval. The final remaining pre-conditional clearance is from China’s Ministry of Commerce.

The proposed transaction will also require support from both BG Group and Shell shareholders.

Read more

Shell makes $70 billion BG Group offer

M&A down despite Shell, BG deal

Current News

Brazil Greenlights Additional Pre-Salt Oil Auction to Lift Revenue

Brazil Greenlights Additional

Shell Rules Out BP Acquisition, Bound by UK Regulations

Shell Rules Out BP Acquisition

BOEM Looks to Open 80 million Acres for Oil and Gas Lease Sale

BOEM Looks to Open 80 million

Libya, Turkey Sign MoU To Conduct Offshore Geophysical Study

Libya, Turkey Sign MoU To Cond

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine