Santos points to ‘positive view’ as suitor walks away
A large Australian gas manufacturer rejects any suggestions of withdrawing a suitor’s withdrawal problems, saying that the bidder is positive about the group.
Abu Dhabi National oil company withdrew its indicator late on Wednesday.
With the foreign investment branch of the tenderer XRG’s Abu Dhabi Egemen Fund and Carlyle, the Private Capital Company, the decision of the transfer of a month to prevent a binding boundary limit.
“Consortium maintained a positive view of Santos business, and a combination of factors affected the consortium’s assessment of the indicator proposal.”
“Although it disappoints not to progress, Disciplined investors focusing on creating value for our shareholders and maintaining long -term growth.”
On Thursday, Santos stressed that the XRG consortium confirms a positive opinion of the business and that it was “respect for the management team”.
The XRG consortium added that it would not accept an appropriate risk allocation between himself and Santos shareholders to conclude an application agreement plan.
“This includes the obligation to secure regulatory approvals of the XRG consortium and the development of domestic gas and providing a reasonable commitment to its supply.”
Santos President Keith Spence emphasized the group’s “low -cost operating model” and strong free cash flow.
“Our strategy is clear: Producing cash, shareholders, re -investment to fill and maintain our infrastructure and to build and enlarge our production while continuing to work safely and reliably,” he said.
With Reuters
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