News: ORG UPDATE 1-Origin Energy extends exclusivity on Brookfield consortium's $12.3 bln bid

(Adds further details, background on deal)

Dec 21 (Reuters) - Australia's Origin Energy Ltd (ORG) said on Wednesday it had extended the exclusivity period on the A$18.4 billion ($12.29 billion) buyout offer from a consortium led by Canada's Brookfield Asset Management to Jan. 16, 2023.

The country's No.2 power producer and energy retailer had backed the proposal in early November, which, if materialises, would be one of the biggest private equity-backed buyouts of an Australian company, and the largest deal in the country this year.

Origin said the consortium confirmed that it was on track to complete its due diligence early next year.

The extension of the exclusivity period enables the consortium to finalise its due diligence over the holiday period with a view to signing binding transaction documents as soon as possible there after, Origin said.

For Brookfield and its partner MidOcean Energy, backed by private equity firm EIG, the deal presents big opportunities in Australia to invest in cleaner energy. ($1 = 1.4975 Australian dollars)