ACCC Grants Authorization for Origin Energy Takeover

The Australian Competition and Consumer Commission (ACCC) has officially granted authorization for the proposed acquisition of Origin Energy Limited (ASX: ORG) by a Consortium led by Brookfield Asset Management and MidOcean Energy, managed by EIG Partners.

• Conditional Approval: The ACCC's approval is contingent on certain undertakings provided separately by Brookfield, AusNet, and MidOcean, which have been made publicly available.
• Significant Milestone: This decision by the ACCC marks a significant milestone in the acquisition process, paving the way for the next steps in the scheme.
• Remaining Conditions: Despite this approval, the transaction remains subject to the satisfaction of outstanding conditions, including regulatory approvals from the Foreign Investment Review Board, National Offshore Petroleum Titles Administrator, and other foreign investment authorities.
• Shareholder Update: Shareholders are not required to take any immediate action. Origin Energy is actively preparing the necessary information for shareholders to make an informed decision, including the Scheme Booklet and Independent Expert's Report, which will be distributed to shareholders in the coming weeks.

Origin Energy's takeover by the Consortium is progressing as planned, with regulatory hurdles being cleared, bringing the acquisition closer to fruition.

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