Royal Dutch Shell announced on Thursday that its recommended takeover of BG Group has received approval from the Australian Foreign Investment Review Board (FIRB). 

The FIRB's decision leaves China as the last regulatory hurdle to the deal.

"Together with the previously announced clearances in Brazil and EU, four of the five pre-conditions to the combination have now been satisfied. The one remaining pre-conditional clearance is from China’s Ministry of Commerce (MOFCOM)," reads the statement released in the morning. 

BG's assets in Australia are considered to be a key reason for Shell's proposed acquisition.

"The addition of BG’s integrated gas assets in Australia to Shell’s global portfolio is one of the main strategic drivers behind the recommended combination," Ben van Beurden, Shell CEO, commented.