EU regulators clear Shell purchase of BG Group

Royal Dutch Shell gained EU antitrust approval on Wednesday for its 47-billion-pound acquisition of BG Group after regulators said the deal did not pose any competition issues. 

PHOTO: BLOOMBERG

SEP 2, 20159:30 PM

[BRUSSELS] Royal Dutch Shell gained EU antitrust approval on Wednesday for its 47-billion-pound acquisition of BG Group after regulators said the deal did not pose any competition issues.

The European Commission said the transaction would not grant Shell market power in oil and gas exploration, the liquefaction of gas and the wholesale supply of liquefied natural gas.

The merged company, which will be the world's top liquefied natural gas company, will be better able to compete with world No 1 oil major ExxonMobile.

REUTERS