BG-Shell takes first step towards Brazilian blessing

BG-Shell takes first step towards Brazilian blessing

Jun 23rd, 2015 

by John Donovan. 

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The £47bn blockbuster deal has been officially filed with competition regulators in Brazil, a key hurdle and strategic area for Shell’s interest

By Ashley Armstrong: 6:38PM BST 23 Jun 2015

Shell’s £47bn plan to become the world’s biggest gas producerhas moved a step closer to reality after the oil giant officially filed its takeover of BG Group with Brazilian competition regulators.

The second-biggest oil and gas deal ever on record still requires the blessing of a number of regulators across the world. Sources have already flagged potential hurdles could come from China’s notoriously opaque Ministry of Commerce (Mofcom) and Brazil’s beefed up authority, the Administrative Council of Economic Defence (CADE), as well as European regulators. The companies have indicated that they expect the deal to close by the first quarter of 2016.

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Posted in: Ben van Beurden, BG Group, Brazil, China, Daily Telegraph, Gas, LNG, Royal Dutch Shell Plc, Shell.
Tagged: Ben van Beurden · BG Group · China · Gas · Royal Dutch Shell Plc · Shell

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