Wesfarmers acquires stake in Quadrant Energy for $100M

Australia's Wesfarmers Ltd. has entered into an agreement to acquire a 13.7% interest in Quadrant Energy Holdings Pty Ltd.

This month, Brookfield Asset Management Inc. and Macquarie Capital (a division of Macquarie Group Ltd.) closed their acquisition of Apache Corp.’s domestic oil and gas assets in Western Australia for $2.1 billion, with each holding an initial 50% interest in Quadrant Energy.

Wesfarmers will invest $100 million to acquire a 27.4%t interest in the special purpose vehicle in which Macquarie Capital holds its interest, representing a 13.7% interest in Quadrant Energy. As part of this investment, Wesfarmers will have a right to appoint a director to Quadrant Energy’s board of directors. Completion of the transaction is expected June 25.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...