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The resources of nationalism appear as an obstacle to the rich oil-east-east emirate Abu Dhabi to gain Santos, australian company in the oil and gas company.
Working with a consortium involving Carlile, the National Oil Company Abu Dhabi (Adnoc) first proposed the takeover in mid-June at a certain level of $ 5.76, a premium of 28% price at the time of the offer.
Moomsa oil and natural gas plant in Fig. Cooper, South Australia Picture of Brendan Esposito (Fairfak Media via Getti Images)
Fairfax Media via Getty Images
Santos manages Mooms Cooper Based Projects in Central Australia, as well as being a shareholder in a large number of liquid export export projects on natural gas (LNG).
The offer of $ 24 billion was in planning and described as a “non-binding indicative proposal” that the directors of Santos said that they would recommend to shareholders to complete 8. August.
Adnoc and Carlile, working as a consortium of KSRG, given exclusive rights by Santos to work on the proposed offer, but when the agreement has arrived that the agreement had to extend two weeks until last Friday (22. August) date that has also passed the date.
A growing opposition
Initial opposition of possible sale of a large Australian moss and gas in a foreign country was muted, but became louder, because it worries in foreign control of domestic gas supply and exports (LNG) exports.
The chance of the offer managed to seek more last week, because the other deadline approached Santos announcing that the KSRG would be given four weeks to finalize his offer.
Santos said to cooperate with the KSRG, but also surprised investors that even if an acceptable conditions were reached (SIA), it could be approved for KSRG to obtain approval for at least another four weeks.
The helicopter point at the Skyline Abu Dhabi with the surrounding area.
Getty
The latest extension of the schedule has accepted investors who continue to buy Santos action that rose for 5 cents in the past week to $ 5.03.
But the extended bidding process began to wash critics who would ask whether Santos, under foreign control, invested to expand domestic gas supply or investing where investments were more attractive.
Grizdan development for the agreement is the appearance of strong work of work, held by the Australian Workers’ Associer (AVE) representing some employees on Santos sites.
National Secretary Ava, Paul Farrov, reported Australian media earlier today as a critical high level of exports Australian LNG, who performed foreign companies.
He told Australian newspapers that companies were able to sell gas to the highest foreign bidder without restrictions.
Righteous job
“These multinational ones should kiss the boots of each Australian taxpayer for the run in the last 10 years, but it is time for a fairer agreement,” Farrov said.
Avu is understanding that it is close to a person who will bring a final decision on attempted KSRG to acquire Santos, the Australian Treasurer Jim Chalmers who will advise the Committee for Reviewing Foreign Investments.
The time, which can be the worst enemy of any corporate contract, not favoring the KSRG movement in Santos, which has previously reported a 22% drop in profit in six months to 30. June.
The basic profit falls from $ 654 million to $ 508 million, did not prevent management from declaring a little increase in semi-annual dividends, which was raised with 13c to 13.4c.
