Australian Pipeline Trust today completed the purchase of the 45% interest in SCP
Investments (No. 1) Pty Limited (which owns 88.2% of the Goldfields Gas Transmission Pipeline) and the Parmelia gas business (Parmelia pipeline, Dongara processing, Mondarra storage facilities and a small gas retail business) for $206 million, including transaction costs, together with working capital adjustments.
The purchase of these assets underpins APA’s strategy of asset diversification and growth.
ABN AMRO was APA’s financial adviser for this acquisition.
APA partly funded the purchase through an institutional placement, which raised $61.19 million, net of costs. ABN AMRO Rothschild was lead manager and CommSec was comanager.
This completes a successful relationship between APA and CMS Energy in joint ownership of SCP.