Under the proposal, APA will acquire Basslink for A$773 million ($683.1 million). These proceeds will be used to repay Basslink creditors, including APA’s existing senior secured debt of A$648 million, says the group in an Oct 17 statement.
APA Group, which is Australia’s leading energy infrastructure business, has confirmed that it has entered into documentation to acquire Basslink potentially.
The news comes after Basslink selected the group as its preferred bidder on Sept 7.
