Tuesday 27 November 2018

Santos announced that it has completed the acquisition of Quadrant Energy. The effective date of the transaction is 1 January 2018.

On completion Santos paid an amount of US$1.93 billion, comprising the purchase price of US$2.15 billion less completion adjustments and cash acquired.

The completion amount was fully funded from Santos’ existing cash resources and US$1.2 billion of new debt facilities.

Stronger operating performance and free cash flow generation since 30 June means Santos is now expecting gearing to be approximately 33% at year-end.