Quadrant Energy

Sydney, 16 Nov 2018

Sydney, 16 November 2018 – Macquarie Group Limited (ASX: MQG, ADR: MQBKY) (Macquarie) notes today’s Australian Competition and Consumer Commission (ACCC) decision approving the August 22, 2018 acquisition of Quadrant Energy by Santos Limited.

As previously disclosed, Macquarie holds 21.8% of Quadrant Energy, and subject to financial close, expects to receive the proceeds of the transaction during FY2019.

Macquarie noted at its interim result announcement on 2 November 2018 that it expected its FY19 result to be up approximately 10 per cent on FY18, noting that this did not include the sale of Quadrant Energy. Following the ACCC approval of the Quadrant Energy acquisition, the Group has reassessed its outlook for the current financial year and now expects an increase of up to 15 per cent in its FY19 result compared with its FY18 result.

Macquarie notes its short-term outlook remains subject to:

  • the conduct of period end reviews and the completion rate of transactions
  • market conditions
  • the impact of foreign exchange
  • potential regulatory changes and tax uncertainties
  • geographic composition of income


Contacts

Mayling Fitzsimmons
Macquarie Group Investor Relations
+61 2 8232 0601

Lisa Jamieson
Macquarie Group Media Relations
+61 2 8232 6016

Navleen Prasad
Macquarie Group Media Relations
+61 2 8232 6472

This information is a general description of the Macquarie Group only. Before acting on any information, you should consider the appropriateness of it having regard to your particular objectives, financial situation and needs and seek advice. No information set out above constitutes advice, an advertisement, an invitation, a confirmation, an offer or a solicitation, to buy or sell any security or other financial, credit or lending product or to engage in any investment activity, or an offer of any banking or financial service. Some products and/or services mentioned on this website may not be suitable for you and may not be available in all jurisdictions. All securities and financial products or instrument transactions involve risks. Past performance of any product described on this site is not a reliable indication of future performance.