Santos Grand Sale

Matt Chambers at Business Spectator interviews Exexc Chair of Santos Peter Coates
It'll be paywalled
http://www.businessspectator.com.au...st?t=94ee16b474ca0cc14598c5bae98d07b5f2ce5143

The juice:
“We will be looking for strategic buyers who see the opportunity to add assets to their portfolio that would not be available at any other time.”
“Everything is for sale at the right price, we don’t fall in love with assets, we look after our shareholders,” adding “non-strategic” assets were more likely to feature in the sales process.

RC will be in the bidding for the second half of Mereenie.  Buying out Santos would relieve CTP of the need to fulfill the complex obligations agreed when buying the first half.  I do not suggest these are onerous, more that a diferent program would be appropriate if CTP owned the lot.   If there is competition with deep pockets, he will want to make sure they pay top dollar - so he can revalue CTP's half to market.

How CTP pays for 1/2 Mereenie would require considerable creativity - with or without NEGI.

DYOR