Shell’s merger with BG receives Australian antitrust clearance

Royal Dutch Shell plc’s combination with BG Group plc has received unconditional merger clearance from the Australian Competition and Consumer Commission (ACCC).

Together with the previously announced clearances in Brazil and the EU, three of the five preconditions to the combination have now been satisfied. The two remaining pre-conditional clearances are from Australia’s Foreign Investment Review Board (FIRB) and China’s Ministry of Commerce (MOFCOM).

Commenting on the ACCC clearance, Shell CEO Ben van Beurden said, “The addition of BG’s integrated gas assets in Australia to Shell’s global portfolio is one of the main strategic drivers behind the recommended combination, making ACCC approval a major step forward for the deal. The Shell BG combination is a sign of Shell’s confidence in the Australian economy. It’s also a springboard to change Shell into a simpler, more profitable, and resilient company in a world where oil prices could remain low for some time.”

Shell says that the filing process in China continues to progress well and that the merger remains on track for completion in early 2016.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...