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Australia regulator approves Brookfield’s US$9.8-billion bid for Origin Energy

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Brookfield to buy Australia’s second-largest power generator, which will be broken up into two businesses

Australia’s antitrust regulator has approved a Brookfield Corp-led consortium’s A$15.35 billion bid for Origin Energy, clearing the way for one of the year’s largest corporate buyouts in the country to proceed.

The ACCC decision had been closely watched as Brookfield’s ownership of AusNet Services, a Victoria-based transmission company that has electricity and gas distribution networks, was identified by analysts as a potential concern for the regulator.In a statement, the ACCC said the proposed deal was likely to speed up the renewable energy transition in Australia. It also said it could lead to a more rapid decrease in greenhouse gas emissions in the country.

 

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