Clifford Chance and Australia’s Corrs Chambers Westgarth are advising on the sale of U.S. oil and gas giant Apache Corp.’s Australian division for $2.1 billion.
Australian investment bank Macquarie Capital Group Ltd. and Toronto-based Brookfield Asset Management Inc. have teamed up to buy Apache Energy Ltd., the Houston-based company’s offshore exploration and production business in Australia. The sale marks Apache’s exit from the business in Australia, however the company will retain its 49 percent ownership in Perth-based fertilizer producer Yara Pilbara Holdings Pty. Ltd. The deal is expected to close in mid-2015.
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