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Australia's APA recommends Hong Kong firm CKI's buyout deal

Published 13/08/2018, 08:36 am
© Reuters.  Australia's APA recommends Hong Kong firm CKI's buyout deal
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Aug 13 (Reuters) - Australia's biggest gas pipeline company APA Group APA.AX on Monday recommended a A$12.98 billion ($9.45 billion) buyout offer from a consortium led by Hong Kong's CK Infrastructure 1038.HK , in the absence of a better offer.

If the deal goes through, APA shareholders will receive A$11.00 cash per share and make CK Infrastructure the major player in Australia's east coast gas pipeline network.

CK Infrastructure, leading a consortium with CK Asset Holdings 1113.HK and Power Assets Holdings 0006.HK , said it is seeking regulatory approval. ($1 = 1.3729 Australian dollars)

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