APA Group acquires Alinta Energy Pilbara

The acquisition has an enterprise value of $1.1b (A$1.72b).

Australia energy infrastructure firm APA Group signed a share sale agreement with Alinta Power Cat and Alinta Energy Development to acquire 100% of Alinta Energy Pilbara Holdings and Alinta Energy (Newman Storage).

In a statement, APA Group said the acquisition has an enterprise value of around $1.1b (A$1.72b).

The company aims to raise $434.4m (A$675m) through a fully underwritten ‘pro-rata’ institutional placement and will undertake a non-underwritten security purchase plan for eligible security holders for $48.3m (A$75m).

ALSO READ: Alinta Energy to develop 100 MW big battery in Australia

The proceed will partly fund the acquisition whilst the remaining balance will be funded by new debt facilities in line with the acquisition of about $639m (A$993m).

Alinta Energy Pilbara is an energy infrastructure business with contracted operation assets and an extensive development pipeline which includes gas and solar power generation, gas transmission, battery energy storage systems and electricity transmission). It has a total operating capacity of 543 megawatts.

$1 = A$1.55