New Market Study Published: BHP Billiton to Divest Its Non-Strategic Stake in the Browse LNG Project in Australia Due to Cost Overrun for US$1.63 Billion in Favor of PetroChina - Deal Analysis from GlobalData
PetroChina International Investment (Australia) Pty Ltd., a wholly owned subsidiary of PetroChina Company Limited (PetroChina), agreed to acquire an 8.33% interest in East Browse project and a 20% interest in the West Browse project located in Browse basin, offshore Western Australia, from BHP Billiton Limited (BHP), a mineral exploration company, for a purchase consideration of US$1.63 billion in cash. The transaction is expected to be completed in the first half of 2013 and is subject to regulatory approval and other...
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