APA Group to acquire Basslink

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

The APA Group (APA) has announced that it has signed agreements with Hydro Tasmania and the State of Tasmania regarding Basslink's continued operations in Australia. These agreements are part of a potential acquisition of Basslink Pty Ltd (Basslink).

APA will acquire Basslink for US$773 million and purchase proceeds are used to repay a debt to Basslink creditors, including US$648 million of APA secured debt. Previously, APA acquired 100% of the senior secured bank debt of Nexus Australia Management Pty Ltd, which is Basslink's borrower. Subsequent to the Basslink acquisition, APA will own and operate a 370 km high-voltage DC transmission line between Victoria and Tasmania.

The purchase is subject to the approval of the company's memorandum of association proposed by APA at the second meeting of Basslink's creditors.

 

 

List of the country updates

Country updates

  • October 03, 2022

    Amber’s iseek acquires YourDC in Australia

    The specialized international investment manager Amber Infrastructure Group (Amber) with its majority owned digital platform, iseek, has acquired the south australian data center operat...

    Read more
  • September 20, 2022

    Construction progress for US$1.61 billion Metro Trains Project in Australia

    Plenary Group has announced that strong progress is being made on the AUD2.4 billion (US$1.61 billion) High Capacity Metro Trains project in Melbourne, Victoria, Australia

    Read more
  • August 19, 2022

    Shortlists announced for Geelong Convention and Exhibition Centre (GCEC) PPP Project

    Three bidders have been shortlisted to deliver the AUD294 million (US$198.94 million) Geelong Convention and Exhibition Centre (GCEC) PPP Project in Geelong city, Victoria, Australia. The three short...

    Read more
  • July 22, 2022

    Macquarie Infrastructure Partners V to acquire 50% stake in CLI

    Macquarie Infrastructure Partners V (MIP V), an Americas-focused unlisted infrastructure fund managed by Macquarie Asset Management, has signed a deal to acquire a 50% stake in Corredor Logistica...

    Read more
  • July 08, 2022

    Australian Motoring Services completes acquisition of Chargefox

    Australian Motoring Services (AMS) has completed the acquisition of Chargefox, an electric vehicle (EV) charging network in Australia. AMS aims to accelerate the expansion of Chargefox’s EV cha...

    Read more

Share this update