China's Fosun among bidders eyeing Origin's energy assets
Origin's smaller Australia and NZ oil and gas assets, valued at A$2b, to be spun off in IPO or sold
Melbourne
AUSTRALIA'S top energy retailer Origin has drawn interest from at least five potential bidders, including China's Fosun International, for A$2 billion (S$2.06 billion) worth of oil and gas assets it aims to spin off, sources said.
Origin said in December it was going to put its smaller Australian and New Zealand gas fields in a unit, dubbed Lattice Energy, to be spun off in an initial public offering (IPO) this year to help it cut debt and boost returns.
But after receiving approaches for some of the Lattice assets, Origin chief executive Frank Calabria said in March that the company was willing to consider a trade sale, in what would be the biggest oil and gas deal in Australia since Apache Corp s…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
BP reshapes its leadership team as some executives leave company
BHP to decide on future of nickel business by August, trims met coal estimates
Even without war in the Gulf, pricier petrol is here to stay
Gold gains as Middle East tensions lift safe-haven appeal
‘No trade war’, says Biden, pushing to triple tariffs on Chinese steel
Oil falls over US$1 as demand worries outweigh Middle East supply risks