did u guy see this?
in todays Aust - this is just an extract only
Bidders pairing up for Originupstream asset offers
Origin Energy’s upstream asset sale is about to trigger a round of speed dating among its suitors, according to sources, with investment bankers believed to be in the process of pulling together bidding consortiums for the operation.
Senex and Beach Energy are expected to join with other groups in their efforts to secure the $1bn-plus operation.
Credit Suisse-advised Beach Energy has Seven Group Holdings as a major shareholder. The Kerry Stokes-controlled group has links with Kohlberg Kravis Roberts from 2006 when it sold its media assets into a vehicle jointly controlled by the private equity firm.
Private equity firms KKR and Apollo are believed to be among the parties eager to secure Origin’s assets and sources say that a partnership between Beach and KKR would come as no surprise.
Senex is backed by private equity firm EIC, so is likely to bid in conjunction with that US-based buyout group, but it will be interesting to see whether it also brings Apollo Private Equity into its camp.
There has been speculation that most of the groups that lodged expressions of interest for the assets were only interested in various parts, although it is now understood that groups could take out the operation as a whole if consortiums are formed.
SXY Price at posting:
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