Shell completes BG takeover
Royal Dutch Shell has announced that the Scheme has become effective and that 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 February 11, 2016 and the delivery of the Court Order to the Registrar of Companies today, February 15, 2016.
‘This is an important moment for Shell,’ said Chief Executive Officer Ben van Beurden.
‘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.’