June 16, 2017 / 1:14 PM / a year ago

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

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.

Staff members work at the booth of Royal Dutch Shell at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. REUTERS/Toru Hanai - RTX33Y86

“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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