News Santos new Port Adelaide major sponsor

[Lockhart Road]

Yes, and I hate Kochie and all his BS and what he has transformed us, but I wouldn’t say that KFC would “have regretted” the sponsorship.

Oh, I would say that any sponsor regrets paying fees to a lost cause.

 

[GremioPower]

Oh, I would say that any sponsor regrets paying fees to a lost cause.

They might change their minds in a couple of seasons, but not now. That would be too fast.

 

[Grave Danger]

Sheikh rattle and roll...

SA government not thrilled by Santos takeover bid​

The South Australian government says it will have to be convinced that a takeover bid for oil and gas company Santos represents a good deal for the state.

A subsidiary of the Abu Dhabi National Oil Company has proposed an almost $30-billion takeover of Santos — Australia's second-largest oil and gas producer.

The Santos board says it intends to unanimously recommend shareholders vote in favour of the deal … in the absence of a better offer and subject to reaching a final agreement.

SA Mining Minister Tom Koutsantonis says legislation has recently been passed requiring the state government's consent to any change of licence ownership in the resources sector.

"It's the role of the Santos board to act in the interest of Santos shareholders, it's the role of the South Australian government to act in interests of South Australians," Mr Koutsantonis said.

"I think it's fair to say my main concerns are the headquartered company remaining here in South Australia, and the jobs in the Cooper Basin and the jobs in the headquarters here in South Australia."

LINK

 

[Enviable Tradition]

Someone needs to get in their ear and convince them that making an offer that the AFL can't refuse to get Port back in the hands of the members would be a major sportswashing coup.

Perhaps they could build the Tassie stadium in exchange for extra goodwill.

 

[RussellEbertHandball]

This will probably take 18 months to be approved/ rejected - the SA government had a golden share in SANTOS and 15% ownership cap as state legislation controlled shares/companies, as the Companies Code used to be the domain of the states before in 1990 they transferred effective power to the Commonwealth. But that was removed about 15 years ago.

Plus Chalmers and the FIRB have to approve it and that will take a long time to approve it - unless its a quick no its not in the national interest / national security argument decision made.

Given gas is a hot topic, Woodside-SANTOS merger was knocked back a couple of years ago, a foreign sovereign wealth fund is involved, this has a long way to go. Wouldn't be surprised if it ends up with SANTOS selling a big chunk if not all their foreign operations in PNG and Alaska to this Abu Dhabi group.

 

[Ford Fairlane]

I figure the middle east oil states love spending money on sport to promote their community vibe, so the Abu Dhabi group will throw money at us like crazy men. #sportswashing

 

[glitch01]

I figure the middle east oil states love spending money on sport to promote their community vibe, so the Abu Dhabi group will throw money at us like crazy men. #sportswashing

I'm in favour of playing a home game in Dubai or Abu Dhabi.........just a balmy 37 degrees today!!

 

[TazD]

Playing under the twinkle of Israeli and Iranian ballistic missiles. Bliss.

 

[glitch01]

Playing under the twinkle of Israeli and Iranian ballistic missiles. Bliss.

At least we don't need to pay for fireworks......

 

[RussellEbertHandball]

At least we don't need to pay for fireworks......

But they do great ones on NYE, firing off from the different levels of the Burj Khalifa.

 

[Rexie J]

I'm in favour of playing a home game in Dubai or Abu Dhabi.........just a balmy 37 degrees today!!

Digressing Glitch, I trust your deployment doesn't require you to be too close to the current turmoil in the region.

Any way, be safe mate.

 

[glitch01]

Digressing Glitch, I trust your deployment doesn't require you to be too close to the current turmoil in the region.

Any way, be safe mate.

Cheers mate.
So far no real effect on life here in UAE.
Does affect my job a bit - we're reducing Field Service in the region (our equipment is used on military aircraft).
Obviously we're not real keen to visit bases in Egypt, Jordan, Qatar, Bahrain etc. given the current situation.

 

[RussellEbertHandball]

Disturbing history behind company in Santos takeover bid

The battle for control of oil and gas giant Santos moved up a gear this week after Ryan Stokes, chairman of Beach Energy and son of billionaire Kerry, took a swipe at the Abu Dhabi government's tilt for a large slice of Australia's energy market.

www.abc.net.au

The gloves are off.

The battle for control of oil and gas giant Santos moved up a gear this week after Ryan Stokes, chairman of Beach Energy and son of billionaire Kerry, took a swipe at the Abu Dhabi government's tilt for a large slice of Australia's energy market.

A clearly incensed Stokes delivered a blunt assessment of the Middle Eastern gas giant's $36 billion takeover, suggesting it could end up denying Australians access to their own energy source.

"A question we'd have is, 'Is that right in the national interest, given the importance of domestic gas?'" he asked.

He didn't have to wait long for a response.

The Abu Dhabi National Oil Company (ADNOC) quickly slapped him down, dismissing the criticisms as "clearly opportunistic and [reflecting] a commercial interest in the outcome".

With $36 billion on the table — the biggest all-cash takeover offer in Australian history — ADNOC too has a significant commercial interest in the outcome. There's been surprisingly little, if any, debate around the merits of the takeover or the identity of the purchaser.

 

[RussellEbertHandball]

‘Off the rails’? Confidence in Santos bid hit by delay

An unexpected delay in signing the binding $36.4 billion takeover deal comes just three days before an exclusive due diligence period ends.

www.afr.com

Market confidence in the Abu Dhabi-led $36.4 billion takeover offer for Santos has been dealt a blow after the bidder revealed a surprise delay of four weeks or more to secure approvals, just three days before a deal had been expected.

Shares in Santos initially dived more than 3 per cent after Australia’s second-largest oil and gas producer said it was informed this week of the delay by the consortium led by Abu Dhabi National Oil Company, even if the terms of a binding takeover deal were agreed and due diligence completed.

That contrasts with Santos’ assurance just over a week ago, when due diligence was extended by two weeks, that ADNOC had “substantially completed” work on the bid and the parties were working towards a final deal for a takeover at $US5.76 ($8.87) a share.

The delay has left uncertainty over whether the non-binding proposal agreed between the bidders and the Santos board in mid-June will remain in play after Friday, when the consortium’s exclusive due diligence period is due to end.

ABC The Business video story.

Santos $36bn takeover bid hits huddles

Follow the latest news headlines from Australia's most trusted source. Read in-depth expert analysis and watch live coverage on ABC News.

www.abc.net.au

 

[rogerjames]

Yes, and I hate Kochie and all his BS and what he has transformed us, but I wouldn’t say that KFC would “have regretted” the sponsorship.

I think they may have regretted how the team conducted itself in most of those finals. Totally embarassing performances on repeat.

 

[rogerjames]

Someone needs to get in their ear and convince them that making an offer that the AFL can't refuse to get Port back in the hands of the members would be a major sportswashing coup.

Perhaps they could build the Tassie stadium in exchange for extra goodwill.

This will never happen imo. The media Aust wide & our own club have done a fair job of denigrating the Port supporter base. We are seen as a very unreasonable, ungrateful, uneducated supporter base living in the past. The fact we want the club to live by a minimum set of football standards is seen as outrageous. Get back in your place Port supporters & by the way your place is in the lower qtr of the Afl ladder.

 

[RussellEbertHandball]

Abu Dhabi consortium drops $30b bid to take over Santos

The investment arm of Abu Dhabi's state-owned oil company has dropped its $30 billion takeover bid for Santos.

www.abc.net.au

The investment arm of Abu Dhabi's state-owned oil company has dropped its nearly $30 billion takeover bid for Australian gas giant, Santos.

Santos has oil and gas assets in the Cooper Basin in far north-eastern South Australia, Gladstone in Queensland, and across Western Australia and Papua New Guinea.

The proposed takeover would have been the biggest-ever cash-only takeover in Australian history.

In a statement, the consortium said it "maintains a positive view of the Santos business" and "a combination of factors, when considered collectively, have affected its assessment of its indicative offer".

The announcement comes after the ABC revealed a major methane leak at a Darwin gas plant was kept secret from the public for almost 20 years, in what environmentalists and federal crossbenchers say is a national scandal.

 

[chiwigi]

Abu Dhabi consortium drops $30b bid to take over Santos

The investment arm of Abu Dhabi's state-owned oil company has dropped its $30 billion takeover bid for Santos.

www.abc.net.au

The investment arm of Abu Dhabi's state-owned oil company has dropped its nearly $30 billion takeover bid for Australian gas giant, Santos.

Santos has oil and gas assets in the Cooper Basin in far north-eastern South Australia, Gladstone in Queensland, and across Western Australia and Papua New Guinea.

The proposed takeover would have been the biggest-ever cash-only takeover in Australian history.

In a statement, the consortium said it "maintains a positive view of the Santos business" and "a combination of factors, when considered collectively, have affected its assessment of its indicative offer".

The announcement comes after the ABC revealed a major methane leak at a Darwin gas plant was kept secret from the public for almost 20 years, in what environmentalists and federal crossbenchers say is a national scandal.

Good, as Santos effectively run the SA governments. we at least want it owned as locally as possible.