Apache Exits Australia E&P Business with $2.1b Sale
U.S. oil and gas company Apache Corp said it would exit its exploration and production business in Australia by selling its unit there to a consortium of private equity funds for $2.1 billion in cash.
The sale of Apache Energy Ltd to a consortium of funds managed by Macquarie Capital Group Ltd and Brookfield Asset Management Inc has an effective date of Oct. 1, 2014, Apache said.
(Reporting by Sneha Banerjee in Bengaluru; Editing by Savio D'Souza)
