Incitec Pivot’s protracted $1.5 billion fertiliser sale process has underbidders champing at the bit.
Street Talk understands Posco’s Senex Energy is keeping close tabs on the situation, ready to step in should Incitec’s negotiations with state-owned Indonesian group Pupuk Kaltim fall over. Incitec tapped Pupuk Kaltim as the preferred buyer of its big Australian fertilisers business after it tabled a knockout offer, blowing indicative interest from Senex and Wesfarmers out of the water. This was despite the former party, in particular, potentially offering a cleaner exit.
Loading...
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
