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Thursday, July 9, 2015
The Shell/BG merger was given the go ahead by the government of Brazil. The $70 billion merger between the two oil and gas giants will make Shell the largest international operator in Brazil, making clearance from the government a must.
Brazil’s competition authority CADE said on Wednesday it had given preliminary approval to the transaction “without restrictions.” BG said that if no appeals were lodged or referrals made in the next 15 days, CADE’s clearance would become final.
So far, besides Brazil, the deal has seen approval from only the US Federal Trade Commission. Pre-conditional approvals from the EU, Australia, and China will be needed before the merger can go forward.
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