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Senator calls on Morrison to block CKI bid for APA

11 July 2018 , ,

Federal Senator Rex Patrick has urged Treasurer Scott Morrison to block CK Infrastructure’s takeover bid for APA Group.

The Australian reported the Central Alliance crossbencher believes the $13 billion bid by the Hong Kong-based group would be detrimental to the Australian economy and an issue of national security.

Mr Patrick said due to APA’s dominance of the gas pipeline sector on Australia’s east coast, a successful takeover bid would leave much of the country’s vital energy infrastructure in Chinese hands, thereby jeopardising the nation’s interests.

If the takeover goes through, CKI would possess $22 billion of pipeline assets across the country, including the Dampier-to-Bunbury gas pipeline which it attained last year after the company acquired DUET.

The publication also reported that CKI Chairman Victor Li said he would sell some assets in Western Australia to ease concerns about fair competition; however, no comment has been made regarding Mr Patrick’s concerns.

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