By Muhammad Ali Khawar on Jan 22, 2016 at 8:14 am ESt
A few days before the shareholders’ meetings on January 27 and January 28, the proposed merger of Royal Dutch Shell plc (ADR) (NYSE:RDS.A) and BG Group has received major support from one of the biggest shareholders of Shell. According to Reuters, Norges Bank Investment Management said it will vote in favor of the proposed merger.
The $790 billion Norwegian fund is the fifth largest investor of European giant, Shell. It believes, amidst low oil prices, the deal will make both the energy companies stronger. The transaction will also be positive for the long-term interests of the companies’ shareholders, the bank added.