UK court sanctions Shell takeover of BG

BG Group has confirmed that the High Court of Justice in England and Wales has sanctioned the scheme of arrangement under Part 26 of the Companies Act 2006 by which the recommended cash and share offer made by Royal Dutch Shell for the entire issued and to be issued share capital of BG is being implemented.

It is expected that the Effective Date of the Scheme will be 15 February 2016, which is when the Court Order is expected to be delivered to the Registrar of Companies.

BG's Chief Executive, Helge Lund, said: "I am delighted that the Combination has been sanctioned today. I would like to thank our shareholders and they will continue to benefit from BG's assets and capabilities as part of the combined business, which I am confident has a strong future. I would also like to thank all of our employees, and contractors, both personally and on behalf of the Board for their service to BG. They should feel proud of what they have achieved with the company."

Edited from press release by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/liquefaction/11022016/uk-court-sanctions-shell-takeover-of-bg-1990/