BREAKFAST DEALS: Woodside auction

Woodside is reportedly set to offload most of its Browse stake, while things heat up around Nine and CVC.

Woodside Petroleum chief executive Peter Coleman is learning quickly that liquefied natural gas in Australia is best shared around. Woodside has taken the foot off the accelerator on a few projects lately and now the oil and gas company has reportedly started an auction process for most of its Browse gas project in Western Australia. A range of companies from home and abroad are thought to be likely buyers in this increasingly heated space. Meanwhile, it looks like CVC Asia Pacific has turned down a chance to talk to two US hedge funds about the enormous debt burden of Nine Entertainment – debt that is now almost 50 per cent owned by the hedge funds. Elsewhere, MSF Sugar chief executive Mike Barry has had to hang around a little longer than planned, synergies from the Whitehaven Coal-Aston Resources merger are looking better and better, and Amcor is shaping up as the winner of flexible packaging company Aperio.

Woodside Petroleum

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