Origin Energy extends exclusivity on Brookfield consortium's $12.3 billion bid
Australia's Origin Energy Ltd said on Wednesday it had extended the exclusivity period on the A$18.4 billion buyout offer from a consortium led by Canada's Brookfield Asset Management to Jan. 16,... |…
In November, the country's No.2 energy producer and retailer had supported the proposal. If it is successful, it would be the largest private equity-backed buyout of an Australian company and the largest deal in Australia this year. Origin stated that the consortium had confirmed it was on track for completing its due diligence by early next year. Brookfield and MidOcean Energy, its partner, are backed by EIG private equity firm. The deal offers huge opportunities to invest in cleaner energy in Australia for Brookfield and MidOcean Energy. ($1 = 1.4975 Australian dollars) (Reporting by Savyata Mishra in Bengaluru; Editing by Shinjini Ganguli)