A consortium comprised of Brookfield Renewable Partners , together with its institutional partners and global institutional investors GIC and Temasek and MidOcean Energy an LNG company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, has entered into a Scheme Implementation Deed with Origin Energy to acquire 100% of the company’s shares.
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% stake in Australia Pacific LNG (APLNG). MidOcean has entered into an agreement to on-sell a 2.49% interest in APLNG to ConocoPhillips. ConocoPhillips, already a 47.5% owner in APLNG, is the current downstream operator and intends to take over upstream operatorship of APLNG. he Scheme values Origin at an enterprise value of $18.7 billion1
Brookfield Corporation is a Canadian multinational company based in Toronto, that is one of the world’s largest alternative investment management companies, with over US$725 billion of assets under management in 2022.
EIG specializes in private investments in energy and energy-related infrastructure on a global basis.
(Source: Brookfield – Image: The Australian)