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Shell to take axe to spending, jobs after $US53b BG Group takeover
2015-12-23 08:57:31| Oil & Gas - Topix.net
Oil giant Royal Dutch Shell has told shareholders the $US53 billion takeover of BG Group will act as a "springboard to change and reshape" the group, and outlined plans for job and spending cuts, as well as $US30 billion of asset sales that look certain to affect the business in Australia. In a prospectus issued overnight for the takeover, which is heading for completion early next year, Shell cut expected capital expenditure for the merged group by $US2 billion to about $US33 billion, down 30 per cent from 2014 levels.
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Category:Energy and Environment