Adnoc consortium plans $ 18.7 billion takeover of Santos!

Adnoc consortium plans $ 18.7 billion takeover of Santos!

Vienna, Österreich - The OMV KernActivät Abu Dhabi National Oil Company (ADNOC) plans a significant purchase in the Australian oil sector. According to vienna.at has a consortium that is listed by adnoc and Gas producers Santos submitted. The offer amounts to $ 18.7 billion (16.24 billion euros) and is supported by ADNOC via the Investment Army XRG and together with ADQ and Carlyle. The offer price of $ 5.76 per Santos share represents a 28 percent surcharge compared to the closing price on Friday.

The Santos' board of directors intends to unanimously recommend the shareholders to agree to the transaction, unless there are better offers. The purchase would enable the consortium to control two significant Australian liquid gas companies (GLADSTONE LNG and Darwin LNG) as well as shares in PNG LNG and Papua LNG. Santos' participations in Papua New Guinea, which are considered the most valuable assets of the company, are particularly valuable

market development and strategic importance

adnoc and Saudi Aramco both have a strong interest in taking over Santos, which is part of a wider strategy, gain a foothold in the gravity markets of the gas sector, especially in Asia. Offshore Technology.com explains that Santos recently achieved an estimated value of around 17.49 billion US dollar, but is under pressure, its share bourgeois to improve varying business results. The conversations between Aramco, Adnoc and Santos continue to run without definitive decisions being made on formal suggestions.

The oil and gas industry is currently strongly shaped by geopolitical tensions and the effects of past crises. According to an analysis on daloa.de The upheaval in the energy sector, which not only influenced the price of energy, but also promoted the investment behavior of the great actors such as ADNOC and Aramco in the direction of LNG.

consolidation and new strategies

The continuing consolidation in the industry, favored by low ratings due to the financial uncertainties, can also be seen in others, such as the mergers between Exxonmobil and Pioneer as well as Chevron and Hess. These movements are part of a larger trend in which large companies try to secure their market shares and find new growth in a changing energy market.