QGC gains control of Sunshine Gas through a takeover

QGC, which has teamed with UK-based BG Group Plc to develop a liquefied natural gas (LNG) plant, has secured 51.8 per cent of Sunshine's shares.

The coal seam gas producer said it would declare the bid unconditional after receiving clearance from the Australian Competition and Consumer Commission (ACCC).

The declaration is expected on October 16.

QGC is offering Sunshine shareholders either an all-scrip offer or a mixture of cash and scrip.