(MENAFN) Royal Dutch Shell announced it has reached a deal to buy British oil and gas exploration company BG Group in a deal worth around USD70 billion, Xinhua reported.
The Combination will result in BG, the third largest energy company in Britain, shareholders owning approximately 19 percent of the Combined Group, the two companies said in a joint statement.
"This is an important transaction for Shell, accelerating the delivery of our strategy for shareholders. The result will be a more competitive, stronger company," Shell Chairman said.
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