Santos extends deadline for $36b takeover for 2nd time
Australia’s second largest oil and gas manufacturer is dragged by a consortium of the United Arab Emirates, a consortium managed by the state’s oil company, for the purchase of 36.4 billion dollars, but no side is not far from the bargaining table.
Santos on Monday, after giving the group a two -week extension that ended on Friday, said that the Abu Dhabi National Oil Company and Investment Group Carlyle will give Carlyle a four -week extension of the exclusivity period to make a binding transfer proposal.
At the end of June, the consortium opened a share of $ 5.76 ($ 8.89) for Santos, but his shares were constantly traded well, an indication that investors are worried about the agreement.
On Monday, Santos reiterated that there was no certainty that negotiations would lead to a binding transfer agreement for the largest cash in the history of Australia.
If an agreement is reached, permission must be obtained from the regulators in Australia, PGN and the United States, and the approval of Australia’s foreign investment investigation committee is seen as the biggest obstacle.
Monday morning Sto shares increased by 1.0 percent to $ 7.84.
Again on Monday, Santos reported that he had made a net profit of $ 439 million ($ 678 million) by falling $ 636 million ($ 982 million) in the first half a year ago.
1.09 billion dollars ($ 1.7 billion) from operations, free cash flow, $ 1.07 billion ($ 1.7 billion) rose slightly, while production remained fixed in 44.1 million barrels of oil equivalent.
Kvin Gallagher, General Manager of Santos and Chairman of the Executive Board, said the results showed that Santos showed his reliability to provide strong cash flow from operations.
Santos declared a temporary dividend of 13.4 cents per share (20.7 cents) and rose from 13 cents to 10 percent a year ago.
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