Treasurer uses FIRB powers to reject CKI’s $13 billion bid for APA Group on ‘national interest’ grounds
Hong Kong-based company CK Infrastructure Group’s (CKI) $13 billion bid to buy Australian APA Group and its energy network has been rejected by Treasurer Josh Frydenberg. The Foreign Investment Review Board failed to reach a unanimous ruling on the tender application but expressed concerns that the acquisition would give a single foreign company monopoly of a majority of Australian pipelines.
22 November 2018