APA Group has endorsed shareholders vote for an A$12.98bn ($9.45bn) takeover offer made by a consortium led by CK Infrastructure Holdings (CKI).
The consortium, which includes CK Asset Holdings (CKA), Power Assets Holdings (PAH) and CKM Australia Bidco (Bidder), has made the takeover offer in June.
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APA has signed a conditional implementation agreement with the consortium, under which the bidder will purchase APA’s securities through trust schemes.
APA is an Australian gas pipeline operator, while CKI is an investment company based in Hong Kong.
The acquisition is expected to enable APA to become a key player in the east coast gas pipeline network in Australia.
Ensign Energy Services has made a takeover offer to Trinidad Drilling through its subsidiary for $947m in cash.
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By GlobalDataEnsign will acquire all the issued and outstanding common shares of Trinidad Drilling, as part of the transaction.
The transaction value also includes Trinidad Drilling’s net debt of $477m.
The acquisition is subject to governmental, regulatory and third-party approvals.
Ensign Energy Services is an oilfield services provider, while Trinidad Drilling is engaged in the provision of drilling and well servicing solutions to the North American oil and gas industry.
Both the companies involved in the transaction are based in Canada.
Parkland Fuel Corporation has signed an agreement with Rhinehart Oil to acquire all the issued and outstanding equity interests of the latter.
The acquisition is expected to close in August 2018 and is subject to customary closing conditions. Parkland Fuel plans to fund the acquisition through cash flows and existing credit facility.
Parkland Fuel is a Canadian marketer of fuel and petroleum products, while Rhinehart Oil is a petroleum and lubricant products manufacturer based in the US.
The acquisition will allow Parkland Fuel to access scalable infrastructure and establish a regional operations centre in Utah.
