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Cultura

Shell agrees $70 billion deal to buy BG


    LONDON (Reuters) - Royal Dutch Shell said on Wednesday it had agreed to buy BG Group for 47 billion pounds ($70 billion) in the first oil super-merger in a decade.

    In a joint statement, the two firms said that as part of the recommended deal Shell would pay 383 pence in cash and 0.4454 Shell B shares for each BG share. It said this represented a premium of around 52 percent to the 90 trading day average.

    The deal will result in BG shareholders owning around 19 percent of the combined group.

    ($1 = 0.6748 pounds)

    (Reporting by Kate Holton; editing by Paul Sandle)