Deal Insight
BP sells its interest in the CATS pipeline & infrastructure to Antin Infrastructure Partners
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Report summary
Antin Infrastructure Partners agreed to acquire BP's operated interest in CATS for US$486 million. This follows the private equity firm's acquisition of BG's 62.78% equity in June 2014, bringing its total interest in CATS to 99%. The Culzean and Jackdaw pre-FID projects are expected to contribute about 50% of its throughput by 2023. The CATS valuation is not directly dependent on the oil price. CATs has strong future cash flow potential, provided the pre-FID projects are sanctioned.
Table of contents
- Executive summary
-
Transaction details
- Assets
- Deal analysis
-
Upsides and risks
- Upsides
- Risks
-
Strategic rationale
- BP perspective
- Antin Infrastructure Partners perspective
- Oil & gas pricing and assumptions
Tables and charts
This report includes 4 images and tables including:
- Executive summary: Table 1
- CATS Throughput and Utilisation
- Oil & gas pricing and assumptions: Table 1
- CATS Infrastructure and Users
What's included
This report contains:
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