The Court of Queen’s Bench of Alberta has granted a final order approving the proposed arrangement under which Repsol S.A., through a wholly-owned subsidiary, will acquire all of the outstanding shares of Talisman Energy, according to a news release.

The arrangement was approved by Talisman shareholders at a special meeting on Feb. 18.

Talisman also confirms that the holders of its preferred shares will participate in the arrangement, the release said.

While all regulatory approvals are on track, completion of the arrangement remains subject to the receipt of required regulatory approvals and the satisfaction or waiver of other customary closing conditions. The transaction is expected to be complete in second-quarter 2015, Talisman said in the release.