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


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...