Gas Wars Down Under Finally Come To An End: Shell-BG Group Tie-Up Gets Green Light
Royal Dutch Shell CEO Ben Van Beurden addresses a keynote speech during the World Gas Conference in Paris on June 2, 2015. Photo Credit: ERIC PIERMONT/AFP/Getty Images)
Tim Daiss, CONTRIBUTOR: DEC 4, 2015
The proposed $70 billion Shell-BG Group mega deal, one of the largest energy deals in a decade, is now a reality, at least in Australia.
On Thursday, the Australian Foreign Investment Review Board (FIRB) gave the green light to the energy tie-up. The deal has already received regulatory approval in the US, EU and Brazil, while regulatory approval from Chinese authorities is still pending, but expected to be granted. The FIRB approval comes just two weeks after the Australian Competition and Consumer Commission (ACCC), the country’s competition regulator,approved the deal.
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