Just six weeks ago, it was near impossible to imagine anyone but APA Group owning Basslink.
APA had played its cards right, cornering the bankrupt electricity interconnector’s debt, which was supposed to lock out other suitors on the equity side. It even ran exclusive due diligence last year.
The interloper is Merrick Howes’ Aviron Investment Management, which has cobbled together a group of investors willing to bankroll the deal, including – if the terms are right – Pacific Equity Partners.
APA was still the auction favourite but Howes and friends were still on the scene.
APA’s top brass would be hoping the pendulum swings their way, especially after it has tempered its US ambitions, lost CEO Rob Wheals and missed out to Brookfield at AusNet.
Boutique corporate adviser Amicaa has made a three-pronged growth pitch to sell broke gold miner Wiluna Mining, as it calls for non-binding bids later this month.
There’s no secret sauce to Incitec Pivot’s great fertiliser/explosives unwind, just the chance to allow its Dyno Nobel explosives unit to trade more like listed rival Orica.
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