Companies & Finance

Origin to increase Otway stake in bid to offload Lattice

Australia’s Origin Energy will increase its stake in the Otway gas project to simplify ownership and help it offload subsidiary Lattice Energy.
By Staff reporter 11 September 2017 0 27527

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...