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BRIEF-APA Group Receives Proposal From Consortium Led By CK Infrastructure Holdings

Reuters

June 13 (Reuters) - APA Group:

* RECEIVED AN UNSOLICITED PROPOSAL FROM A CONSORTIUM LED BY CK INFRASTRUCTURE HOLDINGS LIMITED

* PRICE IS A$11.00 CASH PER STAPLED SECURITY

* APA BOARD MAKES NO RECOMMENDATION IN RESPONSE TO PROPOSAL AT THIS TIME

* PROPOSAL ALSO PERMITS A DISTRIBUTION NOT EXCEEDING 24.0 CENTS PER STAPLED SECURITY PAYABLE IN RESPECT OF SIX MONTHS TO 30 JUNE 2018

* BASED ON INDICATIVE PRICE, APA BOARD CONSIDERS THAT IT IS IN BEST INTERESTS OF APA'S SECURITYHOLDERS TO ENGAGE FURTHER WITH CONSORTIUM

* APA ENTERED INTO A CONFIDENTIALITY AGREEMENT WITH CKI TO ALLOW IT OPPORTUNITY TO UNDERTAKE DUE DILIGENCE ON A NON-EXCLUSIVE BASIS Source text for Eikon: Further company coverage: