ACCC Authorizes Brookfield And MidOcean's Acquisition Of Origin Energy

(RTTNews) - Australian Competition and Consumer Commission has granted authorization with conditions for the proposed acquisition of Origin Energy (ORG.AX, OGFGF.PK) by the Consortium comprising Brookfield Asset Management and MidOcean Energy, an entity managed by EIG Partners.

The authorization is granted on the basis of undertakings which have been provided separately by Brookfield, AusNet and MidOcean and which have been published by the ACCC.

Origin noted that the transaction remains subject to the satisfaction of outstanding conditions, including additional regulatory approvals by the Foreign Investment Review Board, National Offshore Petroleum Titles Administrator and certain other foreign investment approvals.

In March 2023, Origin Energy Limited said it entered into a binding Scheme Implementation Deed in relation to the transaction with the Consortium comprising Brookfield Asset Management and MidOcean Energy for the acquisition of all the issued shares in Origin for total consideration of A$8.912 per share.