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European Commission approves Shell’s $3.8 bln North Sea sale

The European Commission approved on Friday Royal Dutch Shell’s $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. (Reuters)

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