Harbour Energy, page-92

Meanwhile, some are questioning whether takeover target Santos could see a rival bid from Total and Quadrant Energy. It is understood the parties have not discussed putting forward a bid but some believe it would make sense.

Total has always been seen as the natural buyer of the stake Santos owns in its PNG project, along with Gladstone LNG.

For the balance of the assets, you need a domestic player, and Quadrant, while partly owned by Brookfield, also counts the Australian-listed Wesfarmers and Macquarie Group as its major shareholders.

Macquarie is the No 2 gas trader by volume in the US.

The $13.5bn Santos takeover bid by Harbour Energy is still expected to play out over some time, which would leave Total and Quadrant in no hurry to make a move.

Some remain sceptical as to whether the government will let the bid pass. A sale would be placing an important domestic gas producer in the hands of a group that counts a US-based private equity firm as a major investor and probably Chinese-based Hony Capital and ENN.

Mercuria Energy is also expected to take a stake in the business. While based in Switzerland, it may have links to China.


Sorry Mkr, I just assumed when I posted a link anyone could read it but the sneaky technical people must still be able to lock you out. Thanks to Bridget and Scott at the Aussie.
Regards Tommy