A consortium composed of Brookfield Renewable Partners, with its institutional partners and global institutional investors GIC and Temasek and MidOcean Energy, has entered into a scheme implementation deed with Origin Energy.
The consortium plans to acquire 100 percent of Origin for an enterprise value of $18.7 billion. The purchase price of $8.91 per share represents a 53.4 percent premium to the company’s unaffected share price.
Upon closing of the transaction, Brookfield, its institutional partners and investors will own Origin’s energy-markets business, Australia’s largest integrated power generator and energy retailer. MidOcean will separately own Origin’s integrated gas segment, including its upstream gas interests and the 27.5 percent stake in Australia Pacific LNG (APLNG). MidOcean has entered into an agreement to on-sell a 2.49 percent interest in APLNG to ConocoPhillips, which is already a 47.5 percent owner in APLNG. ConocoPhillips, the current downs
