Shell has completed its deal to acquire BG Group for $70bn and now owns the entire share capital of BG.
The latest development comes after the High Court of Justice in England and Wales sanctioned the scheme of arrangement at a hearing held on 11 February 2016.
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In accordance with the terms of the scheme, shareholders who made no valid election under the mix and match facility will receive 0.4454 new Shell shares and 383 pence in cash for each scheme share held, Shell said.
Initially announced in April 2015, the acquisition secured final unconditional approval from the Australian Foreign Investment Review Board (FIRB) in December 2015.
Royal Dutch Shell CEO Ben van Beurden said: "This is an important moment for Shell.
"It significantly boosts our reserves and production and will bring a large injection to our cash-flow. We have acquired productive oil and gas projects in Brazil and Australia and other key countries.
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By GlobalData"We will now be able to shape a simpler, leaner, more competitive company, focusing on our core expertise in deep water and LNG."
Following completion of the deal, Shell is now facing the challenge to spin-off assets worth $30bn at a time when price pressures are working against it.
Image: Shell head office, Carel van Bylandtlaan, The Hague. Photo: courtesy of PL van Till.
