KWM advises Brookfield on $US2.15 billion sale agreement

AU | EN
Current site :    AU   |   EN
Australia
Belgium
China
China Hong Kong SAR
Germany
Italy
Japan
Singapore
Spain
UAE
United Kingdom
United States
Global

King & Wood Mallesons (KWM) have advised Brookfield on the sale of its interest in Quadrant Energy (Quadrant) to Santos Limited. 

Santos has agreed to acquire 100% of the Australian based oil and gas business from a consortium of investors including Brookfield, Macquarie and Wesfarmers for $US 2.15 billion, with the acquisition being fully funded from existing cash resources and a $US 1.2 billion new committed debt facility. 

The deal also includes a contingent payment in relation to the recent significant Dorado-1 oil discovery, and a royalty over all other future hydrocarbons produced in Quadrant's Bedout Basin tenements. 

The KWM team was led by Partner Adrian Perkins

Commenting on the deal Adrian said: "We are delighted to have supported Brookfield through its full investment cycle in such a high quality asset like Quadrant." 

Brookfield and its institutional partners currently have a  48.3 % hold in Quadrant Energy. 

The sale is subject to certain consents and approvals including from the Australian Competition and Consumer Commission and is expected to settle later this year.