Apache closes on sale of Australian subsidiary

Houston independent Apache Corp. has completed the previously disclosed sale of its Australian subsidiary Apache Energy Ltd. to a consortium of private equity funds managed by Macquarie Corporate Holdings Ltd. and Brookfield Asset Management Inc. (OGJ Online, Apr. 8, 2015).

Total proceeds of $1.9 billion are net of $225 million in customary, post-closing adjustments for the period between the effective date of Oct. 1, 2014, and closing.

Earlier this week, Apache reported it would be restructuring the company into three “super regions” following a series of acquisitions and divestitures over the last 5 years (OGJ Online, June 1, 2015).

Apache operates in the US, the UK, Canada, and Egypt.