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European Commission approves Shell's $3.8 billion North Sea sale
June 16, 2017 / 10:43 PM / in 4 months

European Commission approves Shell's $3.8 billion North Sea sale

Staff members work at the booth of Royal Dutch Shell at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. REUTERS/Toru Hanai - RTX33Y86

LONDON (Reuters) - The European Commission approved on Friday Royal Dutch Shell’s (RDSa.L) $3.8 billion sale of North Sea oil and gas assets to private equity-backed Chrysaor.

“The Commission concluded that the proposed acquisition would not raise competition concerns, because of its limited impact on the market structure,” the Commission said in a statement.

Shell welcomed the “important milestone” towards the completion of the deal which is expected in the second half of this year.

Reporting by Ron Bousso; Editing by Susan Fenton

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