Acquisition of BC Group Plc marks biggest oil-and-gas deal in 20 years.
Royal Dutch Shell has acquired of smaller British rival BG Group Plc for about USD 70 billion to create the world’s largest independent producer of liquefied natural gas (LNG), Business Standard reported.
The deal, the first major acquisition since oil prices began to slump last July, would be among the largest oil-and-gas deals of past two decades and the biggest in last 10 years. The merged company will surpass Chevron Corp. and close the gap on the market leader ExxonMobil in the U.S. If approved by shareholders, it will help Shell become the world’s largest producer of liquefied natural gas (LNG).