Shell’s takeover of BG secured approval from the Australian Foreign Investment Review Board (FIRB), it was today confirmed.
The green light comes after the Australian Competition and Consumer Commission (ACCC) gave it the initial go-ahed.
Australia’s vote of confidence follows clearances in Brazil and the EU.
The merger must now secure a final clearance from China’s Ministry of Commerce (MOFCOM).
Shell chief executive, Ben van Beurden, said: “I am very pleased to receive this news. The FIRB approval is an important step towards deal completion.
“The addition of BG’s integrated gas assets in Australia to Shell’s global portfolio is one of the main strategic drivers behind the recommended combination. The Shell-BG combination is a sign of Shell’s confidence in the Australian economy. It is also a springboard to change Shell into a simpler, more profitable and resilient company. We remain on track to complete the deal in early 2016.”