Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
Anglo-Dutch major Shell’s $70bn takeover of UK firm BG was given the green light this week as both firms’ shareholders voted overwhelmingly in favor of the deal. On 28 January, 99% of BG shareholders voted to approve the deal, while a day earlier 83% of Shell’s shareholders voted the same way.
The merger, which was announced in April last year (MEES, 10 April 2015), will be finalized on 15 February almost 20 years since BG was formed. The new combined company is due to overtake US-firm Chevron as the world’s second-largest publicly traded oil and gas company, behind only ExxonMobil.
Shell plans to cut thousands of jobs and sell off tens of billions worth of assets once the integration is complete as it looks to deal with the low oil-price climate.
DON'T HAVE AN ACCOUNT?
NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?
By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.UPGRADE