Deals
Origin Sells 10% of Australia Gas JV to EIG for $1.6 Billion
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Origin Energy Ltd has agreed to sell a 10% stake in its Australia Pacific LNG joint venture with ConocoPhillips and Sinopec to energy investor EIG Partners for A$2.12 billion ($1.58 billion).
Origin will keep a 27.5% stake in the business, which is Australia’s largest producer of coal seam gas, according to an announcement on Monday. The agreement leaves ConocoPhillips the largest owner with 37.5% and Sinopec with 25%. Origin will keep its existing seats on the board.