September 13, 2019 / 9:13 AM / 2 months ago

Australia's Pacific Energy suitor matches rival's $320 million bid

Sept 13 (Reuters) - Australian power producer Pacific Energy Ltd said on Friday that suitor QIC Private Capital had raised its initial bid to match a rival consortium’s recent offer for the company.

In the sweetened offer, a unit of QIC proposed to pay A$1.085 per Pacific share, Pacific said in a statement. That values the company at about A$466.7 million ($320.9 million),

The offer matches what a consortium comprising Australian fund manager Infrastructure Capital Group and Canada’s OPTrust offered to pay for Pacific earlier this week. (Reporting by Rashmi Ashok in Bengaluru; Editing by Mark Potter)

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