Shell buys US gas group East Resources for 4.7 billion dollars

28th May 2010, Comments 0 comments

British energy giant Royal Dutch Shell on Friday announced it has agreed to pay 4.7 billion dollars (3.8 billion euros) in cash for US natural gas explorer East Resources.

Shell said in a statement that it had agreed to acquire subsidiaries which own substantially all of the business of East Resources.

"Shell has agreed to acquire subsidiaries which own substantially all of the business of East Resources for a cash consideration of 4.7 billion dollars, from East Resources, and its private equity investor Kohlberg Kravis Roberts & Co. and its advisors Jefferies & Company.

"The transaction is subject to certain regulatory approvals," Shell added.


© 2010 AFP

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