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12-02-2016

UK Court Sanctions Shell, BG Mega-Merger

The merger, which is expected to become effective on February 15, is still subject to the delivery of the court order to the registrar of companies.

Royal Dutch Shell plc (Shell) Thursday announced that BG Group plc (BG) has confirmed that the High Court of Justice of England and Wales has sanctioned the so-called "mega-merger" of Shell and BG.

However, it is noted that the merger, which is expected to become effective on February 15, is still subject to the delivery of the court order to the registrar of companies.

Shell is reported to have said that it expects that dealings related to BG shares will be suspended on the evening of February 12, with BG shares set to be delisted and canceled from London Stock Exchange at 8:00 a.m. local time on February 15.

As Ship & Bunker previously reported, Shell confirmed in late January that 99.53 percent of BG's shareholders voted in favour of a BG takeover by Shell, a merger that is expected to result in the creation of the world's biggest liquefied natural gas (LNG) trader.


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