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BUZZ-BG Group: sells Australian gas pipeline

Reuters - UK Focus

** BG Group (LSE: BG.L - news) sells Australian gas pipeline to APA Group for US$5 bln

** Traders expect stock to gain 1-5 pct

** BG said transaction is expected to result in a post-tax profit of approx $2.7 bln

** Credit Suisse (NYSE: CS - news) said in context of BG's current multiple, deal can be viewed as accretive & reduces balance sheet risk; hikes its TP for BG to 960p vs 940p

** Major oil producers under intense scrutiny as they are expected to present cost-cutting strategies to shield earnings from oil price slide

** BG shares have dropped some 15 pct YTD, vs 6 pct drop from Stoxx 600 oil & gas index, with the broader Stoxx 600 up 10 pct over period (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)