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EIG Receives FIRB Approval for Investment in Senex

Source: www.gulfoilandgas.com 3/17/2017, Location: Not categorized

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On 1 February 2017, Senex announced a strategic arrangement with EIG Global Energy Partners (EIG), including welcoming EIG as a substantial shareholder. Senex also announced it had conducted a successful raising of approximately A$55 million via a placement to EIG and other institutional and sophisticated investors.

Of the 146 million shares placed to EIG, the final tranche of approximately 50 million shares was conditional on FIRB approval. Senex has been advised that this approval has been secured, with EIG to hold approximately 12% of expanded Senex issued capital.

Senex Managing Director and CEO Ian Davies said, ďOur strong financial position and operating capability mean we are ideally placed to convert opportunities in the structurally short east coast gas market. We are looking forward to working with EIG to pursue material growth for Senex.Ē

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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