Stonepeak has entered into a definitive agreement to acquire Allgas, a major gas distribution network in Queensland, Australia, from APA Group, Marubeni Corporation, and other shareholders. Allgas operates around 3,900 kilometers of distribution mains, supplying gas to approximately 120,000 households and businesses from Brisbane to northern New South Wales, as well as Toowoomba and Oakey. The transaction is expected to close in the first half of 2026, pending regulatory approvals.
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