APA Group has entered into an agreement to acquire Alinta Energy Pilbara, an energy infrastructure business that develops projects located in Western Australia’s Pilbara region.
“The exciting acquisition of Alinta Energy Pilbara delivers APA a significant new growth platform in the attractive remote-grid energy sector,” said APA chief executive officer and managing director Adam Watson.
“It’s consistent with our strategy to be the partner of choice in delivering infrastructure solutions for the energy transition and links directly with our focus on customers in the resources sector.”
Alinta Energy Pilbara is an energy infrastructure business underpinned by contracted operational assets.
APA intends to raise $675 million through a fully underwritten institutional placement and will undertake a non-underwritten security purchase plan (SPP) for eligible security holders to raise $75 million.
The proceeds will be used to partly fund the acquisition. The balance of the purchase price will be funded by new debt facilities established in connection with the acquisition of $993 million.
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