Wesfarmers will pay $100 million to earn a 27.4% interest in the special purpose vehicle in which Macquarie holds its Quadrant interest, in turn giving Wesfarmers a 13.7% interest in Quadrant.
Under the terms of the deal Wesfarmers has also gained the right to appoint a director of its choosing to Quadrant's board.
It marks the first entry into oil and gas for Wesfarmers and the company's managing director Richard Goyder said the investment would compliment the company's chemicals, energy and fertilisers division’s existing businesses.
Macquarie
