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Santos completes $1.93 billion acquisition of Quadrant Energy

Staff Writer |
Santos announced that it has completed the acquisition of Quadrant Energy. The effective date of the transaction is 1 January 2018.

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On completion Santos paid an amount of $1.93 billion, comprising the purchase price of $2.15 billion less completion adjustments and cash acquired.

The completion amount was fully funded from Santos’ existing cash resources and $1.2 billion of new debt facilities.

Stronger operating performance and free cash flow generation since 30 June means Santos is now expecting gearing to be approximately 33% at year-end.

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