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Business deals

Origin Energy backs $11.8bn buyout led by Brookfield

Deal would be largest deal in Australia so far this year

Australia's No. 2 power producer and energy retailer, Origin Energy, backed a $11.8 billion buyout offer from a consortium led by Canada's Brookfield Asset Management.   © Reuters

(Reuters) -- Origin Energy, Australia's No. 2 power producer and energy retailer, backed an 18.4 billion Australian dollar ($11.8 billion) buyout offer from a consortium led by Canada's Brookfield Asset Management, the companies said on Thursday.

If successful, the takeover would rank as one of the biggest private equity-backed buyouts of an Australian company, and would be the largest deal in the country this year, Refinitiv data shows.

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