BG Group Plc (www.bg-group.com), the UK’s third-largest natural gas company, has secured additional acceptances for its $995 million offer to acquire Australia’s Pure Energy Resources Ltd (www.pureenergyresources.com.au), according to a report by Bloomberg (www.bloomberg.com). The acceptances give BG a 49.38 percent interest in the company, and BG is expected to gain Royal Dutch Shell’s 11.2 percent stake in Pure Energy, which would take its share in the company to about 60 percent.
Bloomberg reports that BG is among companies seeking reserves in Australia’s northeast to supply planned liquefied natural gas projects to meet rising demand in Asia for cleaner-burning fuels. Pure Energy’s independent directors are recommending shareholders accept BG”s offer.
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