[...] but surely this is still a risk for FIRB approval on competition grounds? The test for the Treasurer is whether the transaction is "in the national interest". I suppose this could include concerns about competition, but (in my opinion) the Treasurer is unlikely to frame his decision in a way that would look like he is second guessing the ACCC's determination. Of interest will be how the Treasurer considers the involvement of "government linked" parties in the transaction: Temasek (a Singapore sovereign fund) who will be co investing in the EM business with Brookfield. The second is Aramco (majority owned by the Saudi state), who is is invested with EIG/Midocean, who plans to acquire the APLNG business. Temasek has received a number of FIRB approvals in the past. Not sure how the Treasurer might view Aramco though as (to my knowledge) they have not been considered in the past.
ORG Price at posting:
$8.48 Sentiment: Hold Disclosure: Held
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