BHP and Woodside Agree to Create Energy Company
22 Noviembre 2021 - 1:25AM
Noticias Dow Jones
By Alice Uribe
SYDNEY--BHP Group Ltd. and Woodside Petroleum Ltd. have signed a
binding share sale agreement to merge BHP's oil-and-gas portfolio
with Woodside.
BHP said Monday that Woodside will acquire the entire share
capital of BHP Petroleum International Pty Ltd. in exchange for new
Woodside shares.
The signing of the agreement follows a merger commitment deed
that was announced on Aug. 17.
"On completion, the merger will create a global top 10
independent energy company by production and the largest energy
company listed on the Australian Securities Exchange," BHP said in
a regulatory filing.
"The combined company will have a high-margin oil portfolio,
long-life LNG assets and the financial resilience to help supply
the energy needed for global growth and development over the energy
transition," it said.
Upon completion of the merger, Woodside will issue new shares
expected to comprise approximately 48% of all the company's shares,
on a post-issue basis, as consideration for the acquisition of BHP
Petroleum.
Completion is targeted for the second quarter of the 2022
calendar year, subject to the satisfaction of conditions including
regulatory and competition authorities' approval.
Write to Alice Uribe at alice.uribe@wsj.com
(END) Dow Jones Newswires
November 22, 2021 02:10 ET (07:10 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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