Above that, the merger must be approved by BG’s shareholders; the voting will be held on Thursday. If approved, the deal will be closed by 15 February, Shell’s report says.
In April 2015, Shell reached an agreement to purchase BG Group for $ 70 billion. Under the deal, shareholders of BG will receive 3.83 pound and 0.4454 shares of Shell for each share. As a result, BG shareholders will own approximately 19% stake in Shell once the merger is completed.
The acquisition of BG will increase Shell’s oil and gas proven reserves by 25%, production - by 20%. BG’s absorption will also significantly strengthen Shell's position on the LNG market.
The new combined company Shell-BG will be the world's largest company-owner of fleet of liquefied natural gas marine transporters - around 70 tankers and floating LNG terminals will come at its disposal. The Corporation will also possess the largest LNG portfolio, including many liquefaction plants worldwide.
Earlier it was announced that Royal Dutch Shell PLC plans to cut 10 th. jobs in an effort to reduce costs, which is also associated with the fall in oil prices.
The company also announceВ that it has reduced operating costs by $ 4 billion in 2015, and expects to further reduce them by $ 3 billion in 2016.
"These measures include reduction of about 10 th. employees and direct contractors during 2015-2016 in both companies, as the companies’ integration proceeds," - said the company in a statement.
Shell's representative explained that 10 thousand. jobs is the total number of cuts, which consists of 7 500 jobs, reduction of which was announced in the III quarter 2015, plus 2 800 jobs, which were announced in December last year.
source: reuters.com
In April 2015, Shell reached an agreement to purchase BG Group for $ 70 billion. Under the deal, shareholders of BG will receive 3.83 pound and 0.4454 shares of Shell for each share. As a result, BG shareholders will own approximately 19% stake in Shell once the merger is completed.
The acquisition of BG will increase Shell’s oil and gas proven reserves by 25%, production - by 20%. BG’s absorption will also significantly strengthen Shell's position on the LNG market.
The new combined company Shell-BG will be the world's largest company-owner of fleet of liquefied natural gas marine transporters - around 70 tankers and floating LNG terminals will come at its disposal. The Corporation will also possess the largest LNG portfolio, including many liquefaction plants worldwide.
Earlier it was announced that Royal Dutch Shell PLC plans to cut 10 th. jobs in an effort to reduce costs, which is also associated with the fall in oil prices.
The company also announceВ that it has reduced operating costs by $ 4 billion in 2015, and expects to further reduce them by $ 3 billion in 2016.
"These measures include reduction of about 10 th. employees and direct contractors during 2015-2016 in both companies, as the companies’ integration proceeds," - said the company in a statement.
Shell's representative explained that 10 thousand. jobs is the total number of cuts, which consists of 7 500 jobs, reduction of which was announced in the III quarter 2015, plus 2 800 jobs, which were announced in December last year.
source: reuters.com