Basslink receiver keeps APA waiting with revised bid date

Pregnant to the tune of about $500 million, APA Group’s been beavering away on a binding bid for Basslink as part of a quick-fire auction run by receiver FTI Consulting and Houlihan Lokey.Binding bids were initially due by August 15, but were pushed back late in proceedings to Monday, August 29, to give all bidders a better chance of coming up with a higher offer.

It is understood APA Group’s already lobbed it’s bid, although the receiver is sticking to its new August 29 deadline. From there, it could take a bit more time to decide what to do with the bids.Whatever the case, there’ll be no deal in time for APA Group’s annual results on Wednesday. As for Basslink, APA’s been the most logical acquirer since August, when it was in exclusive talks to buy the interconnector from then owner Keppel Infrastructure Trust.

APA re-entered the frey when it bought a $99 million piece of debt in November, and secured its position as the

Source: News Formal (newsformal.com)

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