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ADNOC-led consortium pulls bid for Australia’s Santos

Published September 17, 2025 Updated September 17, 2025 04:36pm
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By Reuters
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DUBAI: Abu Dhabi National Oil Company’s international investment arm XRG said on Wednesday that an investor group it was leading had withdrawn an indicative $18.7 billion offer to buy Australian gas producer Santos.

The consortium, led by XRG alongside Abu Dhabi sovereign fund ADQ and private equity firm Carlyle, will not make a binding offer for Santos, XRG said in a statement, capping a months-long takeover saga.

Santos did not immediately respond to a request for comment.

ADNOC MENA Abu Dhabi National Oil Company

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