Royal Dutch Shell plc has announced that it has completed its acquisition of BG Group plc. As of 15 February 2016, the entire issued ordinary share capital of BG Group is now owned by Shell.
This follows the Court’s sanction of the Scheme at a hearing held on 11 February 2016, and the delivery of the Court Order to the Registrar of Companies on 15 February 2016.
In January 2016, 83.08% of Shell’s voting shareholders approved the recommended combination between Shell and BG Group, while 99.53% of BG’s shareholders also approved the deal.
Focus on LNG
Shell’s Chief Executive Officer, Ben van Beurden, said: “This is an important moment for Shell […] It significantly boosts our reserves and production and will bring a large injection to our cash flow. We have acquired productive oil and gas projects in Brazil and Australia and other key countries. We will now be able to shape a simpler, leaner, more competitive company, focusing on our core expertise in deep water and LNG.”
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/floating-lng/15022016/shell-completes-acquisition-of-bg-1997/