The shareholders approved the merger with BG


Moscow. January 27. Shareholders of the British-Dutch oil company Royal Dutch Shell on Wednesday voted to merge with British gas firm BG Group, according to MarketWatch. In support of the transaction spoke holders 83,08% stake in Shell.

BG shareholders will vote on Thursday. In the case of a positive decision, the deal would be closed by 15 February, according to a press release from Shell.

As reported, in April this year, Shell agreed to buy BG Group for $70 billion In the framework of the BG transaction, the shareholders will receive for each share by 3.83 per pound and 0,4454 shares of Shell. As a result, after completion of the transaction, BG shareholders will own approximately 19% of the shares of Shell.

The acquisition will enhance BG’s proved reserves of oil and gas, Shell 25%, production – 20%. The uptake of BG also further enhances Shell on the market of liquefied natural gas.

Shares of Shell in the course of trading on Wednesday fell by 1.6%, while paper BG went up by 0.3%.