Acquisition History / XRG (ADNOC) / Carlyle consortium / Santos Ltd
XRG (ADNOC) / Carlyle consortium Acquires Santos Ltd
Announced June 16, 2025 — $18.70B
What happened
Santos is an Adelaide-based ASX-listed oil and gas producer with LNG assets in Australia and Papua New Guinea. It announced receipt of an indicative all-cash takeover proposal worth about US$18.7B from a consortium led by XRG, the international investment arm of Abu Dhabi's ADNOC.
- Acquirer
- XRG (ADNOC) / Carlyle consortium
- Target
- Santos Ltd
- Announced
- June 16, 2025
- Price
- $18.70B
- Industry
- Oil and gas
- Buyer type
- Strategic acquirer
- Status
- Announced, not yet closed
By the numbers
Frequently Asked Questions About This Acquisition
When did XRG (ADNOC) / Carlyle consortium acquire Santos Ltd?
XRG (ADNOC) / Carlyle consortium acquired Santos Ltd on June 16, 2025. This was XRG (ADNOC) / Carlyle consortium's 1st publicly tracked acquisition out of 1 we have on record.
How much did XRG (ADNOC) / Carlyle consortium pay for Santos Ltd?
XRG (ADNOC) / Carlyle consortium paid $18.70B for Santos Ltd.
What does Santos Ltd do?
Santos is an Adelaide-based ASX-listed oil and gas producer with LNG assets in Australia and Papua New Guinea. It announced receipt of an indicative all-cash takeover proposal worth about US$18.7B from a consortium led by XRG, the international investment arm of Abu Dhabi's ADNOC.
What other Oil and gas companies has XRG (ADNOC) / Carlyle consortium acquired?
Santos Ltd is XRG (ADNOC) / Carlyle consortium's only publicly tracked acquisition in Oil and gas so far.