The Abu Dhabi-backed consortium pursuing a US$36 billion takeover of Santos Ltd (ASX:STO) has accused Ryan Stokes of attempting to derail its bid so Beach Energy Ltd (ASX:BPT, OTC:BEPTF) – in which his family holds the largest shareholding – can secure key domestic assets.
The blunt exchange marks an escalation in tensions over the national interest implications of the proposed acquisition by Abu Dhabi’s state oil producer ADNOC and US private equity group Carlyle, already under scrutiny from the Australian government and local gas market rivals.
On Tuesday, Stokes joined the criticism, arguing the deal was not in the national interest and echoing concerns first raised by Beach Energy chief executive Brett Woods. Woods has claimed the transaction could have serious ramifications for Australia’s energy security.