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New Deal


Announced

Kumul Petroleum to acquire an additional 5% stake in PNG LNG project from Santos for $1.4bn.

Financials

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Transaction Value£1,309m
Consideration TypeCash
Capital Owned17%
Capital Bid For5%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Infrastructure

Papua New Guinea

Private

Minority

natural gas development

Pending

Integrated Oil and Gas

Friendly

Single Bidder

Domestic

Acquisition

Synopsis

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Kumul Petroleum, Papua New Guinea’s national oil and gas company, offered to acquire an additional 5% stake in PNG LNG project from Santos, an Australian oil and gas exploration and production company, for $1.4bn. The potential sale would increase the equity interest of the State to approximately 22% supporting the PNG government objectives for the people of PNG to have a greater equity interest in the development of their natural resources.

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