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

[June 16, 2017]  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" toward 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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