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

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Staff members work at the booth of Royal Dutch Shell at Gastech, the world's biggest expo for the gas industry, in Chiba

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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