Shell Acquires BG Group for $69.7 Billion
The Anglo-Dutch multinational oil and gas corp will buy the British gas producers for cash and stocks.
- Oil & Gas
- The takeover adds 25% in oil and gas reserves and 20% in production for Shell
- BG Group shareholders will own 19% shares in the new business
To cut it short
Considering the recent slump in oil prices, Shell bought BG Group to minimize costs and increase their stake in natural gas. The merger is reported to bring the combined venture a profit of US$ 2.5 billion per year.
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