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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National Oil Company’s international investment arm XRG said on Wednesday that an investor group it was leading had withdrawn an indicative $18.7 billion offer to buy Australian gas producer Santos.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.