BG says Brazil competition authority has approved Shell offer

BG Group, which has agreed to be taken over by Royal Dutch Shell, confirmed on Monday that it has received unconditional merger clearance from the Brazilian competition authority for the takeover.

The approval is one of the five regulatory clearances that are pre-conditions to the combination and this is the first pre-condition to be satisfied. Other pre-conditional approvals are required from Australia, China and the European Union, the company said.

BG said the filing process to obtain these approvals and the regulatory approvals required in other jurisdictions is well underway.

The merger will also require support from both BG Group and Shell shareholders.