Australia M&A - JERA agree to acquire 15.1% stake in Scarborough from Woodside

(Originally published on February 23, 2024)

Today, Woodside Energy have announced that they have entered into a binding sale and purchase agreement to divest a 15.1% stake in the Scarborough project to JERA. The deal has an effective date of 1 January 2022 (essentially from FID) and is expected to complete in the second half of 2024.

The purchase price for the deal is US$ 740 million plus historical expenditure from the effective date to the close date, with the estimated total consideration being approximately US$ 1,400 million.