Company News: Origin Energy and 360 Capital
Origin Energy announced it has sold its Lattice Energy business to another Australian listed company, the oil and gas producer Beach Energy for $1,585m.
Lattice Energy comprises a number of gas production and exploration assets, including in the Otway basin, part ownership of BassGas, and various interests in the Cooper Basin, the Perth Basin, the Bonaparte Basin, and in New Zealand.
Origin has entered into long term gas supply agreements with Beach to support its domestic gas business. Proceeds from the sale will be used to reduce debt.
360 Capital has submitted its Bidder’s Statement for its takeover offer of Asia Pacific Data Centres (APDC), a listed REIT which owns three data centre properties in Melbourne, Sydney and Brisbane.
First Samuel (on behalf of its clients) has provided an unsecured facility up to $20m to 360 Capital (through a bidding debenture deed), to assist with the purchase of these assets - should the 360 Capital bid be successful.