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U.S. gives green light to Shell to buy BG Group in $70bm deal

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Acquisition   The huge deal in the energy sector

U.S. regulators have given the green light for Royal Dutch Shell's proposed $70 billion acquisition of British rival BG Group, the first clearance for the biggest deal in the energy sector in over a decade.

The two companies said the United States Federal Trade Commission (FTC) had cleared the deal.

Shell will pay a mix of cash and shares that values each BG share at around $20.
The deal, which the companies aim to complete by early 2016, will require further regulatory clearances from all the countries BG operates in, including the European Union, China, Australia and Brazil.

"We're well underway with the anti-trust and regulatory filing processes in relevant jurisdictions around the world and we're confident that, following the usual thorough and professional review by the relevant authorities, the deal will receive the necessary approvals," Shell chief executive officer Ben van Beurden said in a statement.

"We remain on track for completion in early 2016," he added.

Royal Dutch Shell announced in April that it has 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.

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