Termination of the Implementation Agreement

Source Press Release
Company Cheung Kong Infrastructure Holdings LimitedAPA Group 
Tags Corporate Deals, Deals, Pipelines/ tankers/ distribution, LNG & Gas Storage/Processing, Power
Date November 20, 2018

PROPOSED ACQUISITION BY BIDCO BY WAY OF THE TRUST SCHEMES OF ALL OF THE STAPLED SECURITIES IN ISSUE OF APA WHICH ARE LISTED ON THE AUSTRALIAN SECURITIES EXCHANGE AND FORMATION OF JOINT VENTURE

Reference is made to the announcement of CKA, CKI, PAH and CKHH dated 13 August 2018 in relation to the Joint Venture Transaction and the Acquisition (the “Joint Announcement”), the circular of CKA dated 10 October 2018, the circular of CKI dated 10 October 2018, the circular of PAH dated 10 October 2018, the announcement of CKA, CKI and PAH dated 30 October 2018 in relation to the poll results of the extraordinary general meeting, special general meeting and general meeting of CKA, CKI and PAH respectively, and the announcement of CKA, CKI and PAH dated 7 November 2018 in relation to the preliminary view of the Treasurer of the Commonwealth of Australia. Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Joint Announcement.

On 20 November 2018, Bidco became aware that the condition precedent of a written no objection notification under the FIRB Act will not be satisfied. This condition to the Trust Schemes cannot be waived by either Bidco or Target RE. The Implementation Agreement has been terminated on 20 November 2018. Accordingly, CKA, CKI and PAH will not proceed with the Joint Venture Transaction and the Acquisition.

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