One of the biggest shareholders in Royal Dutch Shell has thrown its weight behind the oil group’s £43 billion takeover of BG Group, despite mounting concerns about the impact of plunging oil prices on the commercial logic that underpins the deal.
The Qatar Investment Authority, the sovereign wealth fund that holds a stake of up to 2 per cent in the Anglo-Dutch group and also is a shareholder in BG, is understood to be “fully supportive” of the proposed transaction, which was announced in April.
The tie-up, which has been approved by Brazilian and European antitrust authorities, is awaiting clearance from Chinese and Australian officials. Shell expects it to complete early next year.
A source familiar with the QIA, one of Shell’s top 20 shareholders,