Origin Buys Karoon's Offshore Gas Interest For $800 Mln
In a statement, Origin said the purchase gives it a strategic stake in one of Australia's biggest offshore gas discoveries. It plans to initially fund the deal through debt facilities but raise around A$1 billion ($930 million) through an equity raising some time after August.
Karoon shares have been suspended from trading since April 30 and will resume trading on Monday.
(Reporting by Byron Kaye; Editing by Richard Pullin)
($1 = 1.0745 Australian Dollars)