Australia’s Origin Energy will increase its stake in the Otway gas project to simplify ownership and help it offload subsidiary Lattice Energy, according to SBS News.
Origin will pay Benaris $190 million for a 27.77% stake in the project and a 29.23% stake in two exploration joint ventures that are owned through Lattice.
The acquisition lifts Lattice’s stake in Otway to 95% and its stake in the JVs to 100%, and is intended to make Lattice more attractive to potential buyers. Origin is looking...
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