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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