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Brazil clears $70 bln BG-Shell merger, BG says

Reuters - UK Focus

July 24 (Reuters) - BG Group Plc (LSE: BG.L - news) on Friday confirmed that it has received final unconditional clearance from Brazilian competition authority CADE for its acquisition by bigger rival Royal Dutch Shell (Xetra: R6C1.DE - news) .

The clearance of the $70 billion merger follows the 15-day period during which the preliminary approval granted by CADE on 8th July could have been appealed.

Shell (LSE: RDSB.L - news) is set to become the largest Brazilian offshore foreign operator after it completes the merger with BG, which it announced in April.

The proposed acquisition had previously obtained a green light from United States Federal Trade Commission (FTC) and now only needs pre-conditional approvals from the European Union, Australia and China for the merger to be completed. (Reporting by Ismail Shakil in Bengaluru; Editing by Christian Plumb)