APA Group (ASX:APA) entered into a share sale agreement to acquire Alinta Energy Pilbara Holdings Pty Ltd and Alinta Energy (Newman Storage) Pty Ltd from Alinta Energy Development Pty Ltd and Alinta Power Cat Pty Ltd. for an enterprise value of AUD 1.7 billion on August 23, 2023. Enterprise value of AUD 1.722 billion is the sum of the purchase price (excluding stamp duty and transaction costs) and existing net debt of AUD 65 million. The transaction will be funded by raising AUD 675 through fully underwritten institutional placement and a non-underwritten Security Purchase Plan to raise AUD 75 million. The balance of the purchase price will be funded by new debt facilities AUD 993 million. The transaction is expected to close in fourth quarter of 2023 and is expected to be free cash flow per security accretive in its first full financial year of ownership and value accretive. Goldman Sachs acted as financial advisor to Alinta Energy Development Pty Ltd. Morgan Stanley (NYSE:MS) and Barrenjoey acted as financial advisors to APA Group. Craig Rogers, Gareth Howe, Mandy Tsang, Luke Woodward, Vishal Ahuja, Will Heath and Jack Hill of King & Wood Mallesons, Australia Branch acted as legal advisor to APA Group.

APA Group (ASX:APA) completed the acquisition of Alinta Energy Pilbara Holdings Pty Ltd and Alinta Energy (Newman Storage) Pty Ltd from Alinta Energy Development Pty Ltd and Alinta Power Cat Pty Ltd. on November 1, 2023. Javed Ali, Jackson Allen, Harley Buggy, Saranpaal Calais, Kenneth Chen, Siqi Chen, Ciara Connolly, Fraser Cull, Nina Dillon Britton, Lisa Emanuel, Victoria Eriksson, Vania Fung, Goran Galic, Sakshi Gandhi, Andreas Grapsas, Melissa Grinter, Rhiannon Habermann, Jake Jerogin, Aaron Kenavan, Kevin Lee, Jodie Llewellyn, Simone Lowes, Louis McAuliffe, Peter McDonald, Knowhee Myung, Michael Parshall, Mita Rahman, Matthew Rubery, Brigitte Samaha, Michael Shepherd, Tony Sparks, Jessica Stratford, Janna Tay, Ashley Varney, Pamela Vassil, Thomas Warren, Isabelle Whitehead, Gemma Witt and Ka Sen Wong of Allen & Overy acted as a legal advisor to Alinta Energy Development Pty Ltd.