Companies & Finance

Lone Star buys Sino Gas & Energy Holdings

Australia’s Sino Gas & Energy Holdings has agreed to a takeover offer from Lone Star
By Staff reporter 31 May 2018 0 31102

Australia’s Sino Gas & Energy Holdings has agreed to a A$529.7 million (US$401.2 million) takeover offer from a subsidiary of United States-based private equity firm Lone Star, the China-focused CBM developer said on Wednesday.

The cash offer provides shareholders with “cash certain value now versus the future risks and uncertainties associated with the business”, said Sino Gas Managing Director Glenn Corrie.

Sino Gas produced an average of 708 thousand cubic metres per day (Mcm/d) of gas in Q1 2018, with output in March hitting...