Shell-BG merger receives Brazilian antitrust clearance

THE HAGUE -- Royal Dutch Shell’s acquisition of BG Group has received unconditional merger clearance from the Brazilian competition authority (CADE), satisfying the first of the pre-conditions to the combination. Other pre-conditions include merger clearances in Australia, China and Europe.

Commenting on CADE clearance, Ben van Beurden, Shell’s CEO, said, "The addition of BG's competitive deepwater Brazil position to Shell's global portfolio is one of the main strategic drivers for the combination. Securing CADE approval at this early stage is a significant deal milestone and reflects not only Shell's thorough preparation but also the professionalism and efficiency of the Brazilian authorities."

Following comments made in June, when the recommended combination cleared its first antitrust hurdle in the U.S., van Beurden also re-confirmed Friday that the filing process is well underway in the remaining pre-conditional and other jurisdictions, and the recommended combination remains on track to complete in early 2016.