ACCC gives green light to CKI Consortium’s takeover of APA Group

Company News

by Anna Napoli

The proposed takeover of APA Group (ASX:APA) by the CKI Consortium will not be opposed by the ACCC.

The ACCC today gave the acquisition the green light after the CKI Consortium agreed to divest significant gas assets in Western Australia.

By undertaking to sell the assets CKI has alleviated ACCC concerns about the possible lessening of competition as a result of the deal.

The takeover schemes remain subject to certain conditions including FIRB  and APA security holders approval.

Shares in APA Group (ASX:APA) are trading 2.15 per cent higher to $9.98