Deal Insight
EIG and Brookfield acquire Origin
Report summary
Origin Energy Limited has entered into a binding agreement with Brookfield Asset Management and MidOcean Energy, a subsidiary of EIG, for the acquisition of all the issued shares in Origin by way of a scheme of arrangement. The deal values Origin at an enterprise value of A$18.7 billion / US$13.1 billion (based on an assumed A$/US$ exchange rate of 0.70). Post-completion, Origin Energy will be split into two separate businesses, with Brookfield acquiring Origin's Energy Market operations, and MidOcean Energy taking on the Integrated Gas division. The Integrated Gas division's key asset is a 27.5% stake in the Australia Pacific LNG (APLNG) joint venture. Subsequent to the separation, MidOcean has agreed to sell a 2.49% interest APLNG to ConocoPhillips for US$0.5 billion. ConocoPhillips will also become upstream operator of APLNG.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
-
Upsides and risks
- Risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes 5 images and tables including:
- Executive summary: Table 1
- Upstream assets: Table 1
- Deal analysis: Table 1
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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