APA Group (APA) refers to media speculation that it is in confidential, exclusive and incomplete discussions with Keppel Infrastructure Trust (KIT) in relation to a potential acquisition of Basslink Pty Limited (Basslink).

APA has submitted a confidential, conditional and incomplete proposal to KIT regarding the potential acquisition. Basslink owns and operates a 370km high voltage, direct current (HVDC) electricity interconnector between Victoria and Tasmania.

While APA is in exclusive discussions, those discussions are ongoing and are incomplete and no definitive agreement has been reached between the parties in relation to any transaction. There is no certainty at this time that the discussions will result in a transaction.

APA has a strong balance sheet and had $1.9 billion of available liquidity at 30 June 2021.