Implies EV of 1.2 bln usd (Il Sole 24 Ore Radiocor) - New York, 22 Jul - Australia's Woodside said it had agreed to buy Houston-based Tellurian and its liquefied natural gas development "Driftwood LNG" for around 900 million dollars in cash.

It said the deal, offering 1 dollar per Tellurian share, implies an enterprise value of around 1.2 billion dollars, "an attractive entry into an opportunity with more than 1 billion of expenditure incurred to date." 'The acquisition of Tellurian and its Driftwood LNG development opportunity positions Woodside to be a global LNG powerhouse,' said Woodside CEO Meg O'Neill.

Tellurian's Board of Directors has approved the transaction and has recommended that its shareholders approve it, Woodside said.

The deal is targeting completion in the fourth quarter of the 2024 calendar year.

AAA-Sje

(RADIOCOR) 22-07-24 16:17:24 (0438) 5 NNNN