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APA GROUP — M&A Activity 2012
Jul 18, 2012
64398_rns_2012-07-18_65aa132e-6dcb-4146-8a0e-e58ff17fd743.pdf
M&A Activity
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ASX RELEASE
19 July 2012
The Manager
ASX Market Announcements Australian Securities Exchange 4[th] Floor, 20 Bridge Street Sydney NSW 2000
Electronic Lodgement
Dear Sir or Madam
Company Announcement
I attach the following announcement for release to the market:
- APA Group welcomes ACCC Announcement
Yours sincerely
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Mark Knapman Company Secretary
19 July 2012
ASX RELEASE
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APA Group welcomes ACCC Announcement
APA Group (ASX:APA) today welcomed the Australian Competition and Consumer Commission’s (ACCC) announcement that it will not oppose the proposed acquisition of Hastings Diversified Utilities Fund (ASX:HDF).
APA Managing Director Mick McCormack said: "Over the last seven months the ACCC has taken a thorough approach to reviewing all issues surrounding the proposed acquisition. I am very pleased that the ACCC has given informal clearance to the acquisition on the basis of our undertakings package.”
This decision now enables APA to consider its options with respect to its takeover offer for HDF.
In the first instance, APA intends to waive the ACCC condition and extend the offer period in relation to its offer to acquire all the stapled securities in HDF which it does not already own.
For further information please contact:
Investor enquiries: Media enquiries: Chris Kotsaris David Symons Investor Relations APA Group Cato Counsel Telephone: (02) 9693 0049 Telephone: (02) 9212 4666 Mob: 0402 060 508 Mob: 0410 559 184 Email: [email protected] Email: [email protected]
About APA Group (APA)
APA is Australia’s largest natural gas infrastructure business, owning and/or operating more than $8 billion of gas transmission and distribution assets. Its pipelines and assets span every state and territory on mainland Australia, delivering 50% of the nation’s gas usage. Unique amongst its peers, APA has direct management and operational control over its assets and the majority of its investments. APA also holds minority interests in energy infrastructure enterprises including Envestra, SEA Gas Pipeline, Hastings Diversified Utilities Fund and Energy Infrastructure Investments.
For more information visit APA’s website, www.apa.com.au
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