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Australia: Shell OK to go with $70 billion after BG Group

Staff writer ▼ | November 20, 2015
Royal Dutch Shell plc said its recommended combination with BG Group plc has received unconditional merger clearance from the Australian Competition and Consumer Commission (ACCC).
Acquisition   Shell will pay a mix of cash and shares
Royal Dutch Shell agreed to buy BG Group for $70 billion. Shell will pay a mix of cash and shares that values each BG share at around 1,350 pence ($20), both companies said in April.

Shell said the deal would boost its proven oil and gas reserves by 25 percent. The firm also plans to increase asset sales to $30 billion between 2016-2018 on the back of the deal.

Shell already got clearances from the U.S., Europe, and Brazil.