Royal Dutch Shell plc (“Shell”) today announced that its recommended combination with BG Group plc (“BG”) has received unconditional merger clearance from the European Commission. Together with the previously announced pre-conditional clearance in Brazil, two of the five pre-conditions to the combination have now been satisfied.
Commenting on the clearance Shell CEO, Ben van Beurden, said: “Receiving clearance from the European Commission underlines the good progress we are making on the deal. The transaction is on track for completion in early 2016. The recommended combination with BG is a springboard to change Shell into a simpler and more profitable company, making Shell more resilient in a world where oil prices could remain low for some time.”
The pre-conditions and conditions to the combination are set out in the 8 April deal announcement.
