Brief: APA Group Receives Proposal From Consortium Led By CK Infrastructure Holdings

Power Assets Holdings

12/06/2018 23:56

June 13 (Reuters) - APA Group  APA.AX :
    * RECEIVED AN UNSOLICITED PROPOSAL FROM A CONSORTIUM LED BY
CK
INFRASTRUCTURE HOLDINGS LIMITED
    * PRICE IS A$11.00 CASH PER STAPLED SECURITY
    * APA BOARD MAKES NO RECOMMENDATION IN RESPONSE TO PROPOSAL
AT
THIS TIME
    * PROPOSAL ALSO PERMITS A DISTRIBUTION NOT EXCEEDING 24.0
CENTS
PER STAPLED SECURITY PAYABLE IN RESPECT OF SIX MONTHS TO 30 JUNE
2018
    * BASED ON INDICATIVE PRICE, APA BOARD CONSIDERS THAT IT IS
IN
BEST INTERESTS OF APA'S SECURITYHOLDERS TO ENGAGE FURTHER WITH
CONSORTIUM
    * APA ENTERED INTO A CONFIDENTIALITY AGREEMENT WITH CKI TO
ALLOW
IT OPPORTUNITY TO UNDERTAKE DUE DILIGENCE ON A NON-EXCLUSIVE
BASIS

Source text for Eikon:  ID:nASXXc730 
Further company coverage:  APA.AX 

 ((Reuters.Briefs@thomsonreuters.com;))