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APA GROUP — M&A Activity 2022
Sep 6, 2022
64398_rns_2022-09-06_06a15fa8-3328-452f-af65-d2f937f6d7b0.pdf
M&A Activity
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APA Group Limited ACN 091 344 704 | APA Infrastructure Trust ARSN 091 678 778 | APA Investment Trust ARSN 115 585 441 Level 25, 580 George Street Sydney NSW 2000 | PO Box R41 Royal Exchange NSW 1225 Phone +61 2 9693 0000 | Fax +61 2 9693 0093 APA Group | apa.com.au
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7 September 2022
ASX ANNOUNCEMENT
APA Group (ASX: APA)
APA SELECTED AS PREFERRED BIDDER FOR BASSLINK
APA Group (ASX: APA), a leading Australian energy infrastructure business, today announced that the Receivers appointed to Basslink Pty Ltd (Receivers and Managers Appointed) (Administrators Appointed) ( Basslink ) have selected APA as the preferred bidder for the acquisition of Basslink.
Basslink owns and operates the 370km high voltage direct current ( HVDC ) electricity interconnector between Victoria and Tasmania.
APA is now in discussions to seek to agree a binding transaction. There is no certainty those discussions will lead to a binding transaction being agreed or implemented.
If a binding transaction is agreed with the Receivers, it is expected that APA will then submit a proposal to the Administrators to effect the acquisition of Basslink and its assets through deeds of company arrangement. Contractual execution will only occur if APA’s proposal to the Administrators is approved by creditors at the second creditors’ meeting. The timing of these events is uncertain and subject to change.
Authorised for release by Amanda Cheney Company Secretary APA Group Limited
For further information, please contact:
Investor enquiries: Kynwynn Strong General Manager Investor Relations Telephone: +61 3 9463 8408 Mob: +61 410 481 383 Email: [email protected]
Media enquiries: Michael Cox Head of Corporate Affairs Telephone: +61 2 8044 7002 Mob: +61 429 465 227 Email: [email protected]
About APA Group (APA)
APA is a leading Australian Securities Exchange (ASX) listed energy infrastructure business. We own and/or manage and operate a diverse, $21 billion portfolio of gas, electricity, solar and wind assets. Consistent with our purpose to strengthen communities through responsible energy, we deliver approximately half of the nation’s gas usage and connect Victoria with South Australia and New South Wales with Queensland through our investments in electricity transmission assets. We also own and operaterenewable power generation assets in Australia, with wind and solar projects across the country. APA Infrastructure Limited is a wholly owned subsidiary of APA Infrastructure Trust and is the borrowing entity of APA Group. For more information visit APA’s website, apa.com.au.
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