Royal Dutch Shell Cancels GBP10.07 Billion Bridge Credit Facility
February 11 2016 - 02:52AM
Dow Jones News
By Ian Walker
LONDON--Oil major Royal Dutch Shell PLC (RDSA.LN) said Thursday
it has cancelled the 10.07 billion pound ($14.4 billion) bridge
credit facility that was agreed last May to pay for its acquisition
of BG Group PLC (BG.LN) as it is now able to fund the deal from its
own cash resources.
Last month Shell and BG shareholders approved Shell's roughly
$50 billion proposed takeover of BG, paving the way for completion
of the biggest oil and gas deal in over a decade.
The vote by both sets of shareholders was the final hurdle for a
deal that will create one of the world's largest liquefied natural
gas producers, while bolstering Shell's deep water oil
projects.
The transaction is expected to complete on Feb. 15.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
February 11, 2016 02:37 ET (07:37 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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