Shell announced on Friday (24) that its merger with BG received unconditional approval of the Administrative Council for Economic Defense (CADE), satisfying the first of the pre-conditions for the completion of the deal. Other preconditions include releases for the acquisition in Australia, China and Europe.

Global CEO of Shell, Ben van Beurden commented on the release of the CADE. "The combination of BG in deep-water exploration sector in Brazil to Shell's portfolio is one of the key strategic factors for the joint venture," he said. The executive also said that the approval of the Brazilian regulatory agency is a major milestone for the agreement and reflects not only the meticulous preparation of Shell, but also the professionalism and efficiency of the Brazilian authorities.

Following the observations made in June, when the merger went through its first antitrust hurdle in the US, van Beurden confirmed once again that the archive process is underway in other jurisdictions and pre-conditional, and that the recommended combination remains on way to be completed in early 2016.