Australia's APA recommends Hong Kong firm CKI's buyout deal
[BENGALURU] Australia's biggest gas pipeline company APA Group on Monday recommended a A$12.98 billion (S$13 billion) buyout offer from a consortium led by Hong Kong's CK Infrastructure, in the absence of a better offer.
If the deal goes through, APA shareholders will receive A$11.00 cash per share and make CK Infrastructure the major player in Australia's east coast gas pipeline network.
CK Infrastructure, leading a consortium with CK Asset Holdings and Power Assets Holdings, said it is seeking regulatory approval.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Keppel’s data centres CEO to become senior managing director, M1 CEO to helm connectivity portfolio
Gold prices set for second weekly gain on Fed rate outlook
Oil up after US economic data strengthens rate cut expectations
Chevron prepares for North Sea exit after more than 55 years
Red Sea disruptions are splitting global LNG trade into regions
Gold prices edge higher as US dollar, yields soften