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Netherlands: Shell completes $70 billion BG mega merger

By  |  February 15, 2016

Shell completes $70 billion BG mega merger, making Shell the world’s biggest deepwater and LNG producer and alongside giant ExxonMobile in size.

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    The deal finally went through Monday after almost year of wrangling between shareholders and intense scrutiny by national regulators around the globe.

    The Anglo Dutch firm announced the news saying: “Royal Dutch Shell is pleased to announce that the Scheme has become effective and that the entire issued ordinary share capital of BG Group plc is now owned by Shell.”

    As part of today’s finalisation, BG Group’s shares have been delisted from the London Stock Exchange at final trading on Friday 12th February after 20 years.

    Shell CEO, 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.”

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