Macquarie, Brookfield-led Group to Buy Apache Unit for $2.1B
April 10, 2015
A consortium of PE funds managed by Macquarie Capital and Brookfield Asset Management have agreed to acquire Apache's (NYSE, NASDAQ: APA) Australian subsidiary, Apache Energy Limited, for $2.1 billion in cash. Assets of the subsidiary averaged production of about 49,000 barrels of oil equivalent per day in March. With the announcement, Apache is fully exiting its exploration & production business in Australia. The deal is expected to close by mid-year with the effective date of the sale being October 1, 2014.