Santos has completed the acquisition of Quadrant Energy, with an effective date of 1 January 2018. On completion, Santos paid an amount of US $1.93 Bn, including the purchase price of $2.15 Bn less completion adjustments and cash acquired. The completion amount was fully funded from Santos’ existing cash resources and $1.2 Bn of new debt facilities. Stronger operating performance and free cash flow generation since 30 June means Santos is now expecting gearing to be approximately 33% at year-end.
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