Shell shareholders back BG takeover

Shell’s shareholders have approved the takeover of BG Group. Around 83% of the oil giant’s investors voted in favour of the deal while 17% said no. A meeting of BG shareholders […]

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By Jacqueline Echevarria

Shell’s shareholders have approved the takeover of BG Group.

Around 83% of the oil giant’s investors voted in favour of the deal while 17% said no.

A meeting of BG shareholders is expected to be held tomorrow to approve the £47 billion merger, according to Shell.

It added the transaction would be expected to be completed on the 15th of February.

The BG takeover has been previously granted approval from China, Brazil, EU, the US and Australia.

Ben van Beurden, CEO of Shell said: “I am delighted with the positive shareholder vote and the confidence that shareholders have shown in the strategic logic of the combination of Shell and BG. Our immediate focus is on the successful completion of the transaction and we now await the results of tomorrow’s BG shareholder vote.”