UPDATE 2-Shell says BG takeover works with oil price in low $60s

martes 22 de diciembre de 2015 15:16 GYT
 

* Shell cuts 2016 capex by extra $2 bln, operating costs by $3 bln

* Savings will help keep dividend safe, Shell says

* Expects to complete deal by Feb. 15

* Major shareholder Aberdeen Asset Management says supports deal (Recasts to focus on break-even price, adds shareholder comment, further details, share prices)

By Ron Bousso and Karolin Schaps

LONDON, Dec 22 (Reuters) - Royal Dutch Shell's proposed $53 billion takeover of rival BG Group will work even if future oil prices are in the low $60s a barrel, it said on Tuesday in announcing another $5 billion cut in spending next year to weather low oil prices.

The company previously said the break-even oil price for the deal was $65 a barrel.

Publishing its prospectus for shareholders on Tuesday, Shell set Feb. 15 as the completion date for the deal, the largest in the energy sector in a decade and one that helped make 2015 a record-breaking year for mergers and acquisitions.

Shareholders of both companies will vote on the deal at meetings to be held on Jan. 27 and 28. Some major stakeholders have already voiced support for the transaction, although others have voiced concern that Shell might be overpaying in the light of the more than 35 percent drop in the oil price since the deal was announced in April.   Continuación...