APA deal hits snag

APA's bid for Hastings Diversified faces further difficulties, with Hastings to spend $100 million on equipment for a 15-year contract worth $400 million to compress gas for Santos. The contract will add an estimated 2? a share to income per unit annually. The APA bid, launched late last year, is still being scrutinised by the Australian Consumer and Competition Commission, which is concerned about ownership concentration. The contract marks a diversification of activities by Hastings into an ...

APA's bid for Hastings Diversified faces further difficulties, with Hastings to spend $100 million on equipment for a 15-year contract worth $400 million to compress gas for Santos. The contract will add an estimated 2? a share to income per unit annually. The APA bid, launched late last year, is still being scrutinised by the Australian Consumer and Competition Commission, which is concerned about ownership concentration. The contract marks a diversification of activities by Hastings into an adjacent business field, while placing further pressure on APA's unwelcome bid.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles