A consortium comprised of Brookfield Renewable Partners (BEP.UN.T), GIC, Temasek and MidOcean Energy, an LNG company formed and managed by EIG, on Monday said they agreed to acquire Australia's Origin Energy Ltd. for A$18.7 billion ($12.43 billion), including debt. The purchase price of A$8.91 per share is a premium over the stock's closing price of A$7.92 a share. The firms first disclosed plans to buy Origin in November. The price announced on Monday amounts to a 53.4% premium over the company's unaffected share price. Brookfield will own Origin Energy's markets unit, while MidOcean will separately own Origin's integrated gas unit and a 27.5% stake in Australia Pacific LNG. ConocoPhillips (COP) has agreed to buy an additional 2.49% interest in Australia Pacific LNG from MidOcean and take over upstream operations of the project. Shares of Brookfield are up 0.9% in premarket trades, while Origin Energy's Australian-listed stock is up 3.2%.
-Steve Gelsi
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
Any recommendation, opinion or advice regarding securities or markets contained in such material does not reflect the views of TD Ameritrade, and TD Ameritrade does not verify any information included in such material.
, 
, 
Copyright ©2023. All rights reserved.