AGIG to acquire networks business of APA Group for AUD47m.

AGIG, an energy infrastructure company, agreed to acquire networks business of APA Group, a natural gas distributor, for AUD47m. “This announcement will allow APA to focus on its strategy to grow as an owner-operator of energy infrastructure. It aligns with our ongoing work to simplify the business, become more cost efficient and to prioritise the significant growth opportunities ahead, including with East Coast Gas Grid expansion, early works in the Beetaloo and in power generation, both in the Pilbara and with emerging gas-powered generation projects," Adam Watson, APA group CEO and Managing Director.