Emmanuel Ukudolo
The entire issued ordinary share capital of BG Group plc (“BG”) is now owned by Shell
February 15, 2016 – Royal Dutch Shell PLC(Shell) today announced its takeover of BG group of company.
BG Group Plc is an oil and gas company that is into oil and gas, exploration and Liquefied Natural Gas (LNG).
It was active in more than 20 countries and employed about 5 000 people, drawn from 70 nations.
Since 1997, BG’s team of geologists and geophysicists have participated in 17 giant hydrocarbon discoveries, each of these discoveries has recoverable resources greater than 500 million barrels of oil equivalent, or 3 trillion cubic feet of gas.
Its projection for 2017, was to be the largest contracted supplier to China, the world’s fastest-growing LNG market.
“We have also delivered to 26 of the 27 countries that currently import LNG’’, BG said before then acquisition.
In a statement announcing the takeover, shell said BG is now owned by Shell, adding that the development followed the Court’s sanction of the Scheme at a hearing held on February 11, 2016 and the delivery of the Court Order to the Registrar of Companies today, February 15, 2016.
It added that the entire issued ordinary shares of BG Group PLC is now owned by Shell.
“Royal Dutch Shell plc (“Shell”) is pleased to announce that the Scheme has become effective and that the entire issued ordinary share capital of BG Group plc (“BG”) is now owned by Shell.
“ This follows the Court’s sanction of the Scheme at a hearing held on February 11, 2016 and the delivery of the Court Order to the Registrar of Companies today, February 15, 2016”, Shell said.
