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Quadrant Energy’s potential IPO cancelled

According to the Australian Financial Review, the WA gas business’ owners – a consortium led by Macquarie Group and Brookfield – cancelled the potential listing.

Instead, the publication reports Brookfield is now considering selling its share in the company to Australia’s leading oil and gas companies, including Santos, Woodside and Beach Energy.

Brookfield’s stake is estimated to be worth more than $2.5 billion; however, it has no management rights attached, which could deter potential buyers.

Quadrant Energy supplies more than 20 per cent of domestic gas in WA from fields previously owned by US firm Apache.

Other businesses with ownership in the company include Canada’s CDPQ, Wesfarmers and AMB Capital Partners.

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