Brookfield, Macquarie to sell Quadrant Energy for $2.15 bln
The private equity group of Brookfield Asset Management and Macquarie Capital have agreed to sell Quadrant Energy, a Perth, Australia-based oil and gas company, for US$2.15 billion. The buyer is Australian oil and gas company Santos Ltd. The deal includes a contingent payment linked to Quadrant's exploration interests, such as the Dorado-1 oil discovery in Western Australia. The sale is expected to close in the fourth quarter. Quadrant was established in 2015 as a result of the US$2.1 billion acquisition of Apache Corp’s Australian energy operations by Brookfield and Macquarie. Brookfield currently holds a 48.3 percent stake in the business, while Macquarie holds 21.8 percent.
23 August 2018•3 mins read
