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With 24.5 million shares on offer at $2.52 the company is looking to raise $61,740,000 towards the $206 million buyout price offered to CMS, with the rest of the money to come from a combination of cash and existing debt facilities.
APA will acquire 100% of the Parmelia business, including the 420km Parmelia pipeline which supplies gas from the Perth Basin, associated gas processing and storage infrastructure, and a small gas retail business. APA will also acquire CMS Energy Corporation's 45% interest in SCP No 1 (SCP).
SCP, which is already 55% owned by APA, owns 88.2% of the 1380km Goldfields Gas Transmission pipeline (GGT) in north-western WA, giving APA operating control of GGT.
