A consortium led by Adnoc’s international subsidiary XRG with Abu Dhabi sovereign wealth fund ADQ and global investment firm Carlyle has had the exclusivity period for its proposed $18.7bn bid to buy Australian gas and LNG firm Santos extended again. Originally set to be complete by 27 June, it was first extended two weeks, before Santos announced a further four-week extension to 19 September on 25 August.
Santos CEO Kevin Gallagher says the consortium requested the extension “to conclude due diligence and to obtain all necessary approvals,” adding that “it has found nothing in due diligence that would lead it to withdraw its indicative proposals.” (CONTINUED - 212 WORDS)