AOE and Shell will not be selling to BG at this stage, a 31+ % holding in PES enough to have another valuable seat in the LNG project consolidation story.
PES directors might yet stick with AOE. Being a minority small shareholder in a PES controlled by BG, but with AOE and Shell in there might interest some.
BG clearly don't expect to get Shell or AOE stake, hence the 50.1% threshold.
Looks a little dissapointing for AOE at this stage.
EL
what is aoe up to?, page-27
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