APA Group Completes Sale of 20% Stake in Allgas Network to Stonepeak for AU$62 Million; Shares Hit 2.5-Year High

MT Newswires Live

Mar 25

APA Group (ASX:APA) completed the divestment of its 20% equity ownership in GDI (EII), owner of the Allgas gas distribution network, to affiliates of Stonepeak as part of Stonepeak's acquisition of 100% of GDI, with APA's proceeds from the sale coming in at AU$62 million, according to a Wednesday Australian bourse filing.

APA will continue to deliver corporate services to GDI, including to the Allgas network, for up to three years, per the filing.

APA Group's shares rose past 1% in recent trading on Wednesday and earlier hit their highest since July 2023.

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