CKI shareholders approve APA takeover bid

Shareholders of the three companies making up the CK Consortium have approved the conditions of the group’s takeover bid for APA Group.

Shareholders from CK Asset Holdings, CK Infrastructure Holdings and Power Assets Holdings all voted to approve the relevant resolutions relating to the acquisition of all the stapled securities of APA.

CK Consortium’s bid for the pipeline owner and operator cleared a significant hurdle last month when it was given the go-ahead by the Australian Competition and Consumer Commission; however, the takeover still has various hurdles to cross with the offer subject to approvals from the Foreign Investment Review Board (FIRB) and APA shareholders.

Federal Treasurer Josh Frydenberg will have the final say on the FIRB decision which has not been given a specific date.

For more information visit the APA website.

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