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Origin to spin off upstream assets via IPO

AAP logoAAP 5/12/2016

Origin Energy, Australia's largest gas and power retailer, has announced the details of its long-anticipated plan to spin off part of its business.

Origin says it will divest its conventional upstream oil and gas business through an initial public offering, with the proceeds to be used to reduce the group's debt.

The group will retain its energy markets business as well as its interest in the Australia Pacific liquefied natural gas project, the Ironbark development and the Browse and Beetaloo basins.

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