Brookfield and EIG Partners’ period of exclusive due diligence will end on Monday, a date that will reveal any impact of Australia’s gas market intervention.
Brookfield and EIG Partners will reveal as soon as Monday whether they plan to proceed with their proposed $18.4 billion takeover of Origin Energy, as the duo’s period of exclusive due diligence expires.
The duo intends to split Origin’s assets, with Brookfield taking the core energy markets business, primarily comprising power generation and electricity and gas retailing, andHowever, the deal came before the Labor government imposed a Origin in December said the bidders had not identified any issues with the deal that would constitute a material adverse change, and a binding deal
Shares in Origin have consistently traded below the offer price amid uncertainty over the outcome of the due diligence process and the regulatory approvals required from the Foreign Investment Review Board and the Australian Competition and Consumer Commission.Both regulators are expected to take a close look, particularly given the fragile state of Australia’s transition to clean energy amid surging energy prices on the east coast.
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