Santos closes acquisition of Quadrant Energy
Santos has announced that it has completed the acquisition of Quadrant Energy (Quadrant). The effective date of the transaction is 1 January 2018.
Quadrant Energy Pty Ltd operates as an oil and gas company. The company offers production facilities, exploration, domestic gas and oil marketing, contracting, safety, and environmental management services.
On completion, Santos paid an amount of US$1.93 billion, comprising the purchase price of US$2.15 billion less completion adjustments and cash acquired.
The completion amount was fully funded from Santos’ existing cash resources and US$1.2 billion of new debt facilities.
UBS and JB North & Co acted as financial advisers and Herbert Smith Freehills acted as legal advisers to Santos.
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